WeRide (NASDAQ:WRD) Now Covered by Analysts at Barclays

Investment analysts at Barclays initiated coverage on shares of WeRide (NASDAQ:WRD) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set an “equal weight” rating and a $4.00 price target on the stock. Barclays’ price target would suggest a potential downside of 6.32% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Morgan Stanley restated an “overweight” rating and set a $12.00 price target on shares of WeRide in a research report on Wednesday, August 19th. Bank of America restated a “buy” rating and set a $10.70 price objective on shares of WeRide in a report on Friday, August 14th. Finally, Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.35.

WeRide Stock Performance

Shares of WeRide stock opened at $4.27 on Thursday. The business’s fifty day simple moving average is $5.46 and its 200 day simple moving average is $6.28. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. WeRide has a 12 month low of $4.05 and a 12 month high of $12.13. The firm has a market capitalization of $1.33 billion, a P/E ratio of -5.69 and a beta of 1.90.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The business had revenue of $34.11 million during the quarter. As a group, analysts anticipate that WeRide will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in WeRide by 4,926.0% in the 1st 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. Sumitomo Mitsui Trust Group Inc. increased its position in shares of WeRide by 229.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock valued at $18,656,000 after buying an additional 1,605,657 shares during the period. California Public Employees Retirement System bought a new stake in shares of WeRide during the first quarter valued at about $1,845,000. Empowered Funds LLC bought a new stake in shares of WeRide during the first quarter valued at about $1,461,000. Finally, Amova Asset Management Americas Inc. lifted its holdings in shares of WeRide by 229.3% in the first quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after buying an additional 1,605,657 shares in the last quarter.

About WeRide

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.