WeRide (NASDAQ:WRD) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of WeRide (NASDAQ:WRD) from a strong sell rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on WRD. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Bank of America reiterated a “buy” rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Morgan Stanley reissued an “overweight” rating and set a $12.00 price target on shares of WeRide in a research report on Wednesday, August 19th. Finally, Barclays began coverage on shares of WeRide in a report on Thursday, October 22nd. They issued an “equal weight” rating and a $4.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.35.

WeRide Price Performance

Shares of WeRide stock traded down $0.06 on Friday, hitting $4.14. 1,375,008 shares of the company were exchanged, compared to its average volume of 2,113,456. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.52 and a beta of 2.02. The company has a 50-day moving average price of $4.89 and a 200 day moving average price of $6.32. WeRide has a 1-year low of $3.94 and a 1-year high of $10.02. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On WeRide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in shares of WeRide in the 2nd quarter valued at $57,000. Royal Bank of Canada increased its position in shares of WeRide by 11.4% during the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock worth $140,000 after purchasing an additional 1,768 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of WeRide during the 1st quarter worth about $152,000. First Trust Advisors LP increased its position in shares of WeRide by 24.9% during the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock worth $188,000 after purchasing an additional 4,646 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in WeRide in the 3rd quarter valued at about $234,000.

WeRide Company Profile

WeRide is a technology company focused on autonomous driving. Founded in 2017 and headquartered in Guangzhou, China, it develops self-driving systems and vehicles for passenger transportation, public transit, logistics and street cleaning. Its offerings include robotaxis, robobuses, robovans and autonomous street-sweeping vehicles, as well as advanced driver-assistance systems for passenger cars. The company works with local and industry partners to deploy and test its technology, with activities in China and selected international markets, including the Middle East.