Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in WeRide Inc. $WRD

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in WeRide Inc. (NASDAQ:WRD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 248,231 shares of the company’s stock, valued at approximately $2,331,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of WeRide as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of WRD. China UAE Investment Cooperation Fund L.P. bought a new stake in shares of WeRide in the 4th quarter valued at about $67,443,000. FengHe Fund Management Pte. Ltd. raised its holdings in WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after acquiring an additional 2,776,381 shares during the period. Greenwoods Asset Management Hong Kong Ltd. bought a new position in WeRide in the 3rd quarter valued at about $26,574,000. Mercer Global Advisors Inc. ADV bought a new position in WeRide in the 3rd quarter valued at about $25,931,000. Finally, Marshall Wace LLP raised its holdings in WeRide by 4,869.5% in the 3rd quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock valued at $20,348,000 after acquiring an additional 2,014,010 shares during the period.

WeRide Stock Up 3.3%

Shares of NASDAQ:WRD opened at $7.76 on Tuesday. The company’s 50 day moving average price is $7.34 and its two-hundred day moving average price is $8.15. WeRide Inc. has a 12-month low of $6.01 and a 12-month high of $12.55. The firm has a market cap of $2.46 billion, a PE ratio of -10.35 and a beta of 1.88.

WeRide (NASDAQ:WRD) last announced its earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The business had revenue of $44.88 million for the quarter. On average, research analysts expect that WeRide Inc. will post -1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Zacks Research cut shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Citigroup reissued a “buy” rating on shares of WeRide in a report on Monday, January 19th. The Goldman Sachs Group assumed coverage on shares of WeRide in a report on Thursday, April 16th. They issued a “buy” rating on the stock. Finally, BNP Paribas Exane assumed coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, WeRide presently has a consensus rating of “Moderate Buy” and an average price target of $12.48.

WeRide Profile

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.