WeRide (NASDAQ:WRD) Stock Rating Upgraded by Macquarie Capit

WeRide (NASDAQ:WRD) was upgraded by equities research analysts at Macquarie Capit to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on WRD. Citigroup reaffirmed a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Bank of America began coverage on shares of WeRide in a report on Monday, December 1st. They set a “buy” rating and a $12.00 target price for the company. Finally, CLSA began coverage on shares of WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

WeRide Stock Performance

WeRide stock opened at $7.55 on Tuesday. WeRide has a one year low of $6.03 and a one year high of $44.00. The stock has a fifty day moving average of $8.73 and a 200 day moving average of $9.29. The stock has a market cap of $2.45 billion, a PE ratio of -8.99 and a beta of 4.32.

Institutional Investors Weigh In On WeRide

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC bought a new position in shares of WeRide in the fourth quarter worth approximately $17,376,000. Amova Asset Management Americas Inc. purchased a new position in shares of WeRide during the 4th quarter valued at $6,093,000. LPL Financial LLC boosted its holdings in WeRide by 15.3% in the 4th quarter. LPL Financial LLC now owns 83,977 shares of the company’s stock worth $729,000 after buying an additional 11,158 shares during the period. Krane Funds Advisors LLC bought a new position in WeRide in the 4th quarter worth $370,000. Finally, Daiwa Securities Group Inc. purchased a new stake in WeRide in the 4th quarter worth $65,000.

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.