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

WeRide Inc. (NASDAQ:WRD)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.02 and last traded at $6.0640, with a volume of 2753485 shares traded. The stock had previously closed at $6.26.

Wall Street Analyst Weigh In

WRD has been the topic of several analyst reports. CLSA initiated coverage on WeRide in a report on Monday, January 5th. They issued an “outperform” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th. Bank of America initiated coverage on shares of WeRide in a report on Monday, December 1st. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Citigroup reissued a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.13.

WeRide Stock Down 2.8%

The firm has a market capitalization of $1.97 billion, a P/E ratio of -7.26 and a beta of 4.36. The company’s 50 day moving average is $7.71 and its 200-day moving average is $8.86.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vident Advisory LLC acquired a new position in shares of WeRide during the fourth quarter worth approximately $298,000. Equitable Holdings Inc. acquired a new position in shares of WeRide during the fourth quarter valued at about $108,000. Trexquant Investment LP increased its position in shares of WeRide by 2,038.2% during the fourth quarter. Trexquant Investment LP now owns 328,899 shares of the company’s stock worth $2,855,000 after acquiring an additional 313,517 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of WeRide in the 4th quarter worth about $310,000. Finally, Royal Bank of Canada lifted its position in WeRide by 84.2% in the 4th quarter. Royal Bank of Canada now owns 15,520 shares of the company’s stock valued at $134,000 after acquiring an additional 7,096 shares in 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.