WeRide (NASDAQ:WRD) Coverage Initiated by Analysts at CLSA

Investment analysts at CLSA started coverage on shares of WeRide (NASDAQ:WRD) in a report released on Monday, MarketBeat reports. The firm set an “outperform” rating and a $13.00 price target on the stock. CLSA’s target price would suggest a potential upside of 32.18% from the stock’s current price.

WRD has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Bank of America initiated coverage on shares of WeRide in a research report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective for the company. Finally, Citigroup assumed coverage on WeRide in a research note on Monday, September 29th. They set a “buy” rating and a $15.50 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

WeRide Price Performance

Shares of WeRide stock traded up $0.45 during trading on Monday, reaching $9.84. 4,119,792 shares of the stock traded hands, compared to its average volume of 4,583,665. WeRide has a 52-week low of $6.03 and a 52-week high of $44.00. The business has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $9.28. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -11.72 and a beta of 4.32.

Institutional Investors Weigh In On WeRide

A number of hedge funds and other institutional investors have recently bought and sold shares of WRD. BlueCrest Capital Management Ltd grew its holdings in shares of WeRide by 147.2% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 46,175 shares of the company’s stock worth $457,000 after purchasing an additional 27,497 shares during the period. Carrhae Capital LLP purchased a new stake in shares of WeRide in the 3rd quarter valued at approximately $16,153,000. Prelude Capital Management LLC purchased a new stake in shares of WeRide in the 3rd quarter valued at approximately $161,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of WeRide in the 3rd quarter worth approximately $25,931,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $45,770,000 after buying an additional 1,645,769 shares during the period.

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.