WeRide (NASDAQ:WRD) Hits New 12-Month Low – What’s Next?

WeRide Inc. (NASDAQ:WRD) reached a new 52-week low during trading on Thursday. The company traded as low as $3.96 and last traded at $3.9650, with a volume of 840,419 shares trading hands. The stock had previously closed at $4.40.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WRD. Bank of America restated a “buy” rating and set a $10.70 price objective on shares of WeRide in a research report on Friday, August 14th. Barclays initiated coverage on shares of WeRide in a research report on Thursday, October 22nd. They issued an “equal weight” rating and a $4.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $12.00 target price on shares of WeRide in a research note on Wednesday, August 19th. Wall Street Zen lowered shares of WeRide from a “sell” rating to a “strong sell” rating in a report on Saturday, October 24th. Finally, Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WeRide presently has an average rating of “Moderate Buy” and an average target price of $10.35.

WeRide Trading Up 10.4%

The company has a market cap of $1.39 billion, a price-to-earnings ratio of -5.95 and a beta of 2.02. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $5.04 and its 200 day moving average price is $6.43.

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

Hedge Funds Weigh In On WeRide

Several institutional investors have recently made changes to their positions in WRD. Bank of America Corp DE increased its position 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 valued at $29,086,000 after buying an additional 3,523,785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in WeRide by 229.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after buying an additional 1,605,657 shares during the last quarter. Amova Asset Management Americas Inc. lifted its stake 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 valued at $18,609,000 after buying an additional 1,605,657 shares in the last quarter. California Public Employees Retirement System acquired a new position in shares of WeRide during the first quarter valued at about $1,845,000. Finally, Empowered Funds LLC bought a new stake in shares of WeRide during the first quarter worth about $1,461,000.

WeRide Company Profile

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.