WeRide Inc. (NASDAQ:WRD) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

WeRide Inc. (NASDAQ:WRD) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.62.

A number of research firms recently commented on WRD. Wall Street Zen cut WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price target on shares of WeRide in a research report on Wednesday, August 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $10.70 price target on shares of WeRide in a research report on Friday, August 14th.

WeRide Stock Performance

Shares of WRD stock opened at $4.81 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. WeRide has a 12-month low of $4.49 and a 12-month high of $12.18. The stock has a market capitalization of $1.49 billion, a P/E ratio of -6.41 and a beta of 1.90. The firm’s 50 day moving average is $5.73 and its 200 day moving average is $6.46.

WeRide (NASDAQ:WRD) last announced its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The company had revenue of $34.11 million for the quarter. Research analysts expect that WeRide will post -0.67 earnings per share for the current year.

Institutional Trading of WeRide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. Bank of America Corp DE increased its position in WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after buying an additional 3,523,785 shares in the last quarter. Temasek Holdings Private Ltd raised its stake in shares of WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after buying an additional 1,623,156 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of WeRide by 229.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after buying an additional 1,605,657 shares during the period. Amova Asset Management Americas Inc. raised its stake in shares of WeRide by 229.3% in the first quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after buying an additional 1,605,657 shares during the period. Finally, Styrax Capital LP purchased a new position in shares of WeRide during the 4th quarter valued at about $11,795,000.

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.