WeRide Inc. (NASDAQ:WRD) Stock Has Average Price Target of $10.35

WeRide Inc. (NASDAQ:WRD) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.35.

WRD has been the topic of several research analyst reports. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Wall Street Zen lowered WeRide from a “sell” rating to a “strong sell” rating in a report on Saturday, October 24th. Bank of America restated a “buy” rating and issued a $10.70 price objective on shares of WeRide in a report on Friday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 target price on shares of WeRide in a research note on Wednesday, August 19th. Finally, Barclays assumed coverage on WeRide in a report on Thursday, October 22nd. They set an “equal weight” rating and a $4.00 target price on the stock.

WeRide Price Performance

NASDAQ WRD opened at $4.14 on Friday. WeRide has a 12 month low of $4.03 and a 12 month high of $11.15. The firm has a market capitalization of $1.29 billion, a PE ratio of -5.52 and a beta of 1.90. The company’s 50 day simple moving average is $5.22 and its 200 day simple moving average is $6.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00.

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

Hedge Funds Weigh In On WeRide

Several large investors have recently made changes to their positions in WRD. Royal Bank of Canada grew its stake in shares of WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock worth $140,000 after purchasing an additional 1,768 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of WeRide in the 1st quarter worth approximately $34,000. First Trust Advisors LP lifted its stake in WeRide by 24.9% during the first quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock valued at $188,000 after purchasing an additional 4,646 shares during the last quarter. Nykredit A S acquired a new stake in WeRide during the second quarter valued at approximately $57,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in WeRide by 31.2% during the second quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock worth $269,000 after buying an additional 11,000 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.