Wall Street Zen Upgrades WeRide (NASDAQ:WRD) to Hold

WeRide (NASDAQ:WRD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

WeRide Trading Up 3.9%

Shares of NASDAQ WRD opened at $8.16 on Friday. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00. The business’s fifty day moving average price is $8.80.

WeRide (NASDAQ:WRD) last announced its earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $9.98 million during the quarter. On average, research analysts anticipate that WeRide will post -0.68 EPS for the current year.

WeRide declared that its board has approved a stock buyback plan on Wednesday, May 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in WeRide in the 1st quarter valued at about $40,315,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in WeRide in the 1st quarter valued at about $12,178,000. Virtu Financial LLC acquired a new position in WeRide in the 1st quarter valued at about $723,000. Concurrent Investment Advisors LLC acquired a new position in WeRide in the 1st quarter valued at about $201,000. Finally, OLD Mission Capital LLC acquired a new position in WeRide in the 1st quarter valued at about $182,000.

About WeRide

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.