Greenwoods Asset Management Hong Kong Ltd. Invests $26.57 Million in WeRide Inc. $WRD

Greenwoods Asset Management Hong Kong Ltd. purchased a new stake in WeRide Inc. (NASDAQ:WRD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,684,200 shares of the company’s stock, valued at approximately $26,574,000. WeRide makes up approximately 0.6% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 22nd largest position.

Other large investors have also recently added to or reduced their stakes in the company. Robert Bosch GmbH acquired a new position in WeRide during the 2nd quarter worth $32,424,000. M&G PLC bought a new position in shares of WeRide during the third quarter worth about $9,870,000. MY.Alpha Management HK Advisors Ltd acquired a new position in WeRide in the second quarter worth about $6,374,000. Varma Mutual Pension Insurance Co bought a new stake in WeRide in the third quarter valued at about $6,732,000. Finally, Bank of America Corp DE bought a new stake in WeRide in the second quarter valued at about $4,687,000.

Analyst Upgrades and Downgrades

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

WeRide Price Performance

Shares of WeRide stock opened at $7.09 on Friday. WeRide Inc. has a 1-year low of $6.03 and a 1-year high of $30.05. The business’s fifty day moving average price is $8.50 and its two-hundred day moving average price is $9.19. The company has a market capitalization of $2.30 billion, a P/E ratio of -8.44 and a beta of 4.32.

WeRide Profile

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.