WeRide Inc. (NASDAQ:WRD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of WeRide Inc. (NASDAQ:WRD) have received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.1250.

WRD has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of WeRide in a report on Monday, January 19th. Bank of America initiated coverage on shares of WeRide in a report on Monday, December 1st. They issued a “buy” rating and a $12.00 price objective for the company. CLSA assumed coverage on shares of WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th.

WeRide Stock Performance

WRD opened at $7.34 on Tuesday. The company has a market capitalization of $2.38 billion, a P/E ratio of -8.74 and a beta of 4.33. The company has a 50-day moving average of $8.48 and a 200-day moving average of $9.19. WeRide has a 1-year low of $6.03 and a 1-year high of $28.17.

Hedge Funds Weigh In On WeRide

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China UAE Investment Cooperation Fund L.P. acquired a new stake in shares of WeRide during the 4th quarter worth approximately $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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. FengHe Fund Management Pte. Ltd. increased its position in WeRide by 198.5% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after buying an additional 2,776,381 shares during the period. Robert Bosch GmbH acquired a new stake in WeRide in the second quarter worth $32,424,000. Finally, Temasek Holdings Private Ltd lifted its stake in WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after buying an additional 1,623,156 shares during the last quarter.

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.