WeRide (NASDAQ:WRD) Sets New 52-Week Low – Here’s Why

WeRide Inc. (NASDAQ:WRD) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.90 and last traded at $5.8270, with a volume of 118452 shares trading hands. The stock had previously closed at $6.03.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on WeRide in a research note on Thursday, April 16th. They set a “buy” rating for the company. HSBC assumed coverage on WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price target for the company. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a research report on Sunday. Zacks Research lowered WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. 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 a consensus rating of “Moderate Buy” and an average price target of $12.48.

WeRide Stock Performance

The firm has a market cap of $1.74 billion, a P/E ratio of -7.46 and a beta of 1.77. The company’s 50 day moving average is $7.24 and its 200 day moving average is $7.72.

WeRide (NASDAQ:WRD) last issued its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. The company had revenue of $16.55 million during the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. On average, equities research analysts anticipate that WeRide Inc. will post -0.59 EPS for the current year.

Institutional Investors Weigh In On WeRide

Several hedge funds have recently modified their holdings of the company. China UAE Investment Cooperation Fund L.P. acquired a new position in WeRide in the 4th quarter worth about $67,443,000. Bank of America Corp DE boosted its stake in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after purchasing an additional 3,523,785 shares in the last quarter. FengHe Fund Management Pte. Ltd. boosted its stake in shares of WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after purchasing an additional 2,776,381 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of WeRide during the third quarter valued at about $25,931,000. Finally, Marshall Wace LLP grew its holdings in shares of WeRide by 4,869.5% during the third quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock worth $20,348,000 after purchasing an additional 2,014,010 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.