HSBC Begins Coverage on WeRide (NASDAQ:WRD)

Equities research analysts at HSBC assumed coverage on shares of WeRide (NASDAQ:WRD) in a report issued on Tuesday. The firm set a “buy” rating and a $11.40 price target on the stock. HSBC’s price objective points to a potential upside of 40.24% from the stock’s current price.

A number of other brokerages have also recently commented on WRD. Bank of America started coverage on WeRide in a report on Monday, December 1st. They set a “buy” rating and a $12.00 target price for the company. BNP Paribas Exane initiated coverage on WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Friday. Zacks Research upgraded WeRide from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Stock Up 14.3%

Shares of NASDAQ WRD traded up $1.02 during trading on Tuesday, hitting $8.13. The company had a trading volume of 5,566,195 shares, compared to its average volume of 4,788,526. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -10.81 and a beta of 4.35. The stock has a fifty day simple moving average of $7.37 and a two-hundred day simple moving average of $8.73. WeRide has a fifty-two week low of $6.01 and a fifty-two week high of $14.26.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. On average, analysts anticipate that WeRide will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

A number of large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the first quarter valued at approximately $27,000. JPMorgan Chase & Co. purchased a new stake in WeRide in the 2nd quarter valued at $30,000. Leonteq Securities AG acquired a new stake in shares of WeRide in the 4th quarter worth $36,000. SBI Securities Co. Ltd. raised its holdings in shares of WeRide by 37.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after acquiring an additional 1,339 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of WeRide during the 4th quarter valued at about $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.