WeRide (NASDAQ:WRD) Sees Large Volume Increase – Here’s What Happened

Shares of WeRide Inc. (NASDAQ:WRD) saw unusually-high trading volume on Friday. 3,917,981 shares traded hands during trading, an increase of 18% from the previous session’s volume of 3,328,677 shares. The stock last traded at $4.7250 and had previously closed at $4.51.

Wall Street Analyst Weigh In

WRD has been the subject of a number of recent research reports. Weiss Ratings raised WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. Morgan Stanley reiterated an “overweight” rating and set a $12.00 target price on shares of WeRide in a research note on Wednesday, August 19th. Bank of America restated a “buy” rating and set a $10.70 target price on shares of WeRide in a research note on Friday, August 14th. Finally, Wall Street Zen lowered WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.62.

WeRide Stock Performance

The company has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $6.48. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -6.26 and a beta of 1.90. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On WeRide

A number of large investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC bought a new stake in WeRide in the 3rd quarter valued at about $421,000. Squarepoint Ops LLC bought a new stake in shares of WeRide during the second quarter valued at approximately $517,000. Nykredit A S acquired a new position in shares of WeRide during the second quarter worth approximately $57,000. Concurrent Investment Advisors LLC lifted its holdings in shares of WeRide by 31.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock worth $269,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of WeRide by 586.3% in the 2nd quarter. Headlands Technologies LLC now owns 104,585 shares of the company’s stock worth $609,000 after purchasing an additional 89,347 shares in the last quarter.

WeRide Company Profile

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.