WeRide Inc. (NASDAQ:WRD) Receives $12.48 Consensus PT from Analysts

Shares of WeRide Inc. (NASDAQ:WRD) have earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.4833.

A number of brokerages have recently commented on WRD. The Goldman Sachs Group started coverage on shares of WeRide in a report on Thursday, April 16th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday.

WeRide Price Performance

Shares of NASDAQ:WRD opened at $5.95 on Friday. WeRide has a 12 month low of $5.18 and a 12 month high of $12.55. The firm has a market capitalization of $1.85 billion, a P/E ratio of -7.93 and a beta of 1.92. The company’s fifty day moving average price is $6.22 and its 200 day moving average price is $7.12.

WeRide (NASDAQ:WRD) last posted its earnings results on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. The firm had revenue of $16.55 million for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. On average, sell-side analysts anticipate that WeRide will post -0.55 EPS for the current year.

Hedge Funds Weigh In On WeRide

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after buying an additional 1,768 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the 1st quarter worth $27,000. First Trust Advisors LP lifted its stake in shares of WeRide by 16.4% in the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after acquiring an additional 2,627 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of WeRide in the second quarter valued at about $30,000. Finally, Leonteq Securities AG purchased a new stake in shares of WeRide in the fourth quarter valued at about $36,000.

About WeRide

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.