WeRide (NASDAQ:WRD) Posts Earnings Results

WeRide (NASDAQ:WRD) released its quarterly earnings results on Monday. The company reported ($0.15) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $24.02 million during the quarter. WeRide had a negative net margin of 329.54% and a negative return on equity of 23.91%.

WeRide Trading Down 4.1%

Shares of WeRide stock opened at $7.92 on Wednesday. The company’s fifty day moving average is $9.86 and its two-hundred day moving average is $9.36. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03. The company has a market capitalization of $2.57 billion and a P/E ratio of -9.43.

Institutional Trading of WeRide

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC acquired a new position in shares of WeRide in the third quarter valued at approximately $161,000. Mercer Global Advisors Inc. ADV acquired a new position in WeRide in the 3rd quarter valued at $25,931,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in WeRide by 55.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after buying an additional 1,645,769 shares during the last quarter. Bank of America Corp DE boosted its holdings in WeRide by 129.3% in the 3rd quarter. Bank of America Corp DE now owns 1,363,611 shares of the company’s stock valued at $13,500,000 after purchasing an additional 768,827 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of WeRide in the third quarter valued at approximately $1,529,000.

Wall Street Analysts Forecast Growth

WRD has been the topic of several recent research reports. UBS Group started coverage on shares of WeRide in a research note on Monday, August 4th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a report on Wednesday, November 19th. Finally, Citigroup assumed coverage on shares of WeRide in a report on Monday, September 29th. They issued a “buy” rating and a $15.50 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, WeRide currently has an average rating of “Hold” and an average target price of $13.75.

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.