WeRide (NASDAQ:WRD) Trading Down 5.9% – Should You Sell?

WeRide Inc. (NASDAQ:WRD) was down 5.9% on Wednesday . The stock traded as low as $5.97 and last traded at $5.9580. 1,805,566 shares were traded during mid-day trading, a decline of 48% from the average session volume of 3,450,463 shares. The stock had previously closed at $6.33.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Weiss Ratings raised shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group started coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WeRide presently has an average rating of “Moderate Buy” and a consensus target price of $12.58.

WeRide Trading Down 9.5%

The company has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $6.96. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -7.64 and a beta of 1.89.

WeRide (NASDAQ:WRD) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.18) EPS for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The company had revenue of $34.11 million during the quarter. As a group, equities research analysts expect that WeRide Inc. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. China UAE Investment Cooperation Fund L.P. acquired a new stake in WeRide during the fourth quarter worth about $67,443,000. Bank of America Corp DE raised its stake in 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 purchasing an additional 3,523,785 shares during the period. FengHe Fund Management Pte. Ltd. boosted its holdings in WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after purchasing an additional 2,776,381 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in WeRide in the 3rd quarter valued at about $25,931,000. Finally, Marshall Wace LLP grew its stake in shares of WeRide by 4,869.5% in the 3rd quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock valued at $20,348,000 after buying an additional 2,014,010 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.