WeRide (NASDAQ:WRD) Sets New 1-Year Low – Here’s Why

Shares of WeRide Inc. (NASDAQ:WRD) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $4.43 and last traded at $4.4150, with a volume of 53,887 shares. The stock had previously closed at $4.52.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America reiterated a “buy” rating and set a $10.70 target price on shares of WeRide in a research report on Friday, August 14th. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of WeRide in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of WeRide from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.62.

WeRide Price Performance

The firm’s 50-day moving average is $5.68 and its 200-day moving average is $6.42. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.32 billion, a PE ratio of -5.73 and a beta of 1.90.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data 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 firm had revenue of $34.11 million for the quarter. On average, equities analysts anticipate that WeRide Inc. will post -0.67 EPS for the current year.

Institutional Investors Weigh In On WeRide

Several institutional investors and hedge funds have recently made changes to their positions in WRD. Green Alpha Advisors LLC bought a new position in shares of WeRide during the third quarter valued at $421,000. Squarepoint Ops LLC bought a new stake in shares of WeRide during the 2nd quarter valued at $517,000. Nykredit A S purchased a new stake in shares of WeRide in the 2nd quarter worth $57,000. Concurrent Investment Advisors LLC lifted its position in WeRide by 31.2% during the second quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock valued at $269,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of WeRide by 586.3% in the second quarter. Headlands Technologies LLC now owns 104,585 shares of the company’s stock worth $609,000 after buying an additional 89,347 shares during the period.

About WeRide

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.