Greenwoods Asset Management Hong Kong Ltd. Lowers Stake in WeRide Inc. $WRD

Greenwoods Asset Management Hong Kong Ltd. reduced its position in WeRide Inc. (NASDAQ:WRD) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,201,800 shares of the company’s stock after selling 482,400 shares during the period. WeRide accounts for approximately 0.5% of Greenwoods Asset Management Hong Kong Ltd.’s investment portfolio, making the stock its 25th biggest holding. Greenwoods Asset Management Hong Kong Ltd.’s holdings in WeRide were worth $19,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keystone Investors PTE Ltd. increased its stake in WeRide by 3,516.8% in the 3rd quarter. Keystone Investors PTE Ltd. now owns 842,389 shares of the company’s stock worth $8,340,000 after buying an additional 819,098 shares in the last quarter. Carrhae Capital LLP purchased a new position in shares of WeRide in the third quarter valued at about $16,153,000. Varma Mutual Pension Insurance Co purchased a new position in shares of WeRide in the third quarter valued at about $6,732,000. FengHe Fund Management Pte. Ltd. boosted its stake in shares of 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 acquiring an additional 2,776,381 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of WeRide in the fourth quarter worth about $6,079,000.

Analyst Ratings Changes

Several brokerages recently issued reports on WRD. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. Zacks Research downgraded WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. BNP Paribas Exane began coverage on shares of WeRide in a report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of WeRide in a research report on Thursday, April 16th. They set a “buy” rating on the stock. Finally, HSBC initiated coverage on shares of WeRide in a report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 target price on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.48.

WeRide Trading Down 5.1%

NASDAQ:WRD opened at $6.65 on Wednesday. The business’s 50-day moving average is $7.43 and its 200 day moving average is $8.00. WeRide Inc. has a 12 month low of $6.01 and a 12 month high of $12.55. The company has a market capitalization of $2.10 billion, a P/E ratio of -8.87 and a beta of 1.88.

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

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.