WeRide Inc. (NASDAQ:WRD) Given Average Rating of “Moderate Buy” by Brokerages

WeRide Inc. (NASDAQ:WRD) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.4833.

WRD has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research note on Friday, March 27th. HSBC initiated coverage on WeRide in a research note on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective on the stock. BNP Paribas Exane initiated coverage on WeRide in a research note on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective on the stock. CLSA started coverage on WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Zacks Research raised WeRide from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd.

Institutional Trading of WeRide

A number of hedge funds and other institutional investors have recently modified their holdings of the business. China UAE Investment Cooperation Fund L.P. purchased a new stake in shares of WeRide during the fourth quarter worth about $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 1,645,769 shares during the last quarter. FengHe Fund Management Pte. Ltd. increased its position in shares of WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after acquiring an additional 2,776,381 shares during the last quarter. Temasek Holdings Private Ltd increased its position in shares of WeRide by 119.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after acquiring an additional 1,623,156 shares during the last quarter. Finally, UBS Group AG increased its position in shares of WeRide by 89.2% during the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock worth $24,027,000 after acquiring an additional 1,305,321 shares during the last quarter.

WeRide Price Performance

Shares of WRD opened at $7.90 on Wednesday. The stock’s 50-day moving average is $7.21 and its two-hundred day moving average is $8.50. The stock has a market cap of $2.51 billion, a PE ratio of -10.53 and a beta of 2.95. WeRide has a 12 month low of $6.01 and a 12 month high of $12.55.

WeRide (NASDAQ:WRD) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. The company had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. On average, research analysts anticipate that WeRide will post -0.68 earnings per share for the current year.

About WeRide

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.