Analysts Set WeRide Inc. (NASDAQ:WRD) PT at $12.48

Shares of WeRide Inc. (NASDAQ:WRD) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.4833.

A number of equities analysts have weighed in on WRD shares. HSBC started coverage on WeRide in a report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price target for the company. BNP Paribas Exane started coverage on WeRide in a report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target for the company. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group started coverage on WeRide in a report on Thursday, April 16th. They issued a “buy” rating for the company.

WeRide Stock Performance

Shares of NASDAQ:WRD opened at $6.10 on Thursday. WeRide has a 1 year low of $6.01 and a 1 year high of $12.55. The stock has a market capitalization of $1.91 billion, a P/E ratio of -8.13 and a beta of 1.77. The stock has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $7.87.

WeRide (NASDAQ:WRD) last issued its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The firm had revenue of $16.55 million for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. Analysts predict that WeRide will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On WeRide

A number of institutional investors and hedge funds have recently bought and sold shares of WRD. NewEdge Advisors LLC purchased a new position in WeRide in the 1st quarter worth approximately $27,000. JPMorgan Chase & Co. purchased a new position in shares of WeRide during the 2nd quarter valued at approximately $30,000. First Trust Advisors LP purchased a new position in shares of WeRide during the 2nd quarter valued at approximately $98,000. Marshall Wace LLP purchased a new position in shares of WeRide during the 2nd quarter valued at approximately $326,000. Finally, Vienna Asset Management LLC purchased a new position in shares of WeRide during the 2nd quarter valued at approximately $1,128,000.

About WeRide

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.