WeRide (NASDAQ:WRD) Stock Price Up 7.7% – Should You Buy?

WeRide Inc. (NASDAQ:WRD) shot up 7.7% during trading on Monday. The company traded as high as $4.45 and last traded at $4.46. 686,538 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,268,058 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WRD. Morgan Stanley restated an “overweight” rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Wall Street Zen cut WeRide from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 24th. Barclays initiated coverage on shares of WeRide in a research report on Thursday, October 22nd. They issued an “equal weight” rating and a $4.00 price target on the stock. Bank of America reiterated a “buy” rating and issued a $10.70 price target on shares of WeRide in a research report on Friday, August 14th. Finally, Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.35.

WeRide Stock Performance

The firm has a market cap of $1.35 billion, a P/E ratio of -5.79 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36. The stock’s 50-day moving average is $5.22 and its 200 day moving average is $6.54.

WeRide (NASDAQ:WRD) last posted its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. The business had revenue of $34.11 million for the quarter. On average, research analysts predict that WeRide Inc. will post -0.67 earnings per share for the current year.

Institutional Trading of WeRide

Large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after acquiring an additional 3,523,785 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock valued at $18,656,000 after acquiring an additional 1,605,657 shares in the last quarter. California Public Employees Retirement System bought a new stake in WeRide in the 1st quarter valued at $1,845,000. Empowered Funds LLC acquired a new position in WeRide in the 1st quarter worth $1,461,000. Finally, Amova Asset Management Americas Inc. boosted its stake in WeRide by 229.3% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after purchasing an additional 1,605,657 shares during the period.

About WeRide

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.