WeRide (NASDAQ:WRD) Trading Up 9.2% – Still a Buy?

WeRide Inc. (NASDAQ:WRD)’s share price was up 9.2% during mid-day trading on Tuesday . The company traded as high as $8.20 and last traded at $8.18. Approximately 6,964,404 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 7,777,678 shares. The stock had previously closed at $7.49.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a research note on Sunday, June 15th.

WeRide Trading Up 7.9%

The company has a fifty day moving average of $8.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.60 and a quick ratio of 13.10.

WeRide (NASDAQ:WRD) last issued its quarterly earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $9.98 million for the quarter. As a group, sell-side analysts expect that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

WeRide announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On WeRide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in WeRide during the first quarter valued at approximately $12,178,000. Concurrent Investment Advisors LLC purchased a new stake in WeRide during the first quarter valued at approximately $201,000. Virtu Financial LLC bought a new position in WeRide in the first quarter worth approximately $723,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of WeRide during the 1st quarter worth $56,000. Finally, OLD Mission Capital LLC purchased a new position in shares of WeRide during the 1st quarter worth $182,000.

WeRide Company Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.