WeRide Inc. (NASDAQ:WRD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of WeRide Inc. (NASDAQ:WRD) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $12.2667.

A number of brokerages recently issued reports on WRD. Morgan Stanley reissued an “overweight” rating and issued a $12.00 target price on shares of WeRide in a research report on Wednesday, August 19th. Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Finally, Bank of America reiterated a “buy” rating and issued a $10.70 price objective on shares of WeRide in a report on Friday, August 14th.

WeRide Stock Performance

WRD opened at $5.75 on Friday. The business’s 50-day moving average price is $5.89 and its two-hundred day moving average price is $6.65. WeRide has a 1 year low of $5.18 and a 1 year high of $12.55. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -7.67 and a beta of 1.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00.

WeRide (NASDAQ:WRD) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $34.11 million during the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. Equities analysts expect that WeRide will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On WeRide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of WeRide by 4,926.0% in the 1st quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after acquiring an additional 3,523,785 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in WeRide during the third quarter worth about $25,931,000. Marshall Wace LLP raised its holdings in WeRide by 4,869.5% during the third quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock worth $20,348,000 after acquiring an additional 2,014,010 shares in the last quarter. ARK Investment Management LLC acquired a new position in WeRide during the fourth quarter valued at approximately $17,376,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in WeRide by 55.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock valued at $45,770,000 after purchasing an additional 1,645,769 shares during the last quarter.

WeRide Company Profile

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.