WeRide (NASDAQ:WRD) Trading Down 7.6% – Time to Sell?

Shares of WeRide Inc. (NASDAQ:WRD) dropped 7.6% on Tuesday . The company traded as low as $10.01 and last traded at $10.0730. Approximately 2,157,065 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,536,083 shares. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

WRD has been the topic of a number of research analyst reports. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. UBS Group initiated coverage on WeRide in a report on Monday, August 4th. They issued a “buy” rating and a $12.00 target price on the stock. Citigroup initiated coverage on WeRide in a report on Monday, September 29th. They issued a “buy” rating and a $15.50 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of WeRide in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, WeRide presently has an average rating of “Hold” and a consensus target price of $13.75.

WeRide Stock Performance

The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $10.36 and a two-hundred day moving average of $9.33.

Institutional Investors Weigh In On WeRide

Several hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its holdings in shares of WeRide by 37.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after acquiring an additional 1,339 shares in the last quarter. NewEdge Advisors LLC acquired a new position in WeRide during the 1st quarter worth about $27,000. JPMorgan Chase & Co. acquired a new position in WeRide during the 2nd quarter worth about $30,000. Concurrent Investment Advisors LLC lifted its holdings in WeRide by 11.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 40,250 shares of the company’s stock worth $398,000 after buying an additional 3,975 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in WeRide during the 1st quarter worth about $56,000.

WeRide Company Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.