Analysts Set WeRide Inc. (NASDAQ:WRD) PT at $12.32

Shares of WeRide Inc. (NASDAQ:WRD) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.2667.

A number of analysts have commented on the company. Bank of America restated a “buy” rating and issued a $10.70 price target on shares of WeRide in a research report on Friday, August 14th. Wall Street Zen cut WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Morgan Stanley reiterated an “overweight” rating and set a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Finally, Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th.

WeRide Stock Down 7.4%

WRD opened at $5.97 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. WeRide has a 1-year low of $5.18 and a 1-year high of $12.55. The company has a market capitalization of $1.85 billion, a PE ratio of -7.96 and a beta of 1.89. The firm’s 50 day simple moving average is $5.88 and its two-hundred day simple moving average is $6.80.

WeRide (NASDAQ:WRD) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The business had revenue of $34.11 million for the quarter. As a group, equities analysts forecast that WeRide will post -0.53 EPS for the current year.

Institutional Trading of WeRide

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC purchased a new position in shares of WeRide during the 1st quarter valued at $27,000. JPMorgan Chase & Co. bought a new position in WeRide in the 2nd quarter worth $30,000. Blue Trust Inc. purchased a new stake in WeRide in the 1st quarter worth $34,000. Leonteq Securities AG bought a new stake in WeRide during the fourth quarter valued at about $36,000. Finally, Nykredit A S bought a new stake in WeRide during the second quarter valued at about $57,000.

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.