WeRide (NASDAQ:WRD) Sees Strong Trading Volume on Analyst Upgrade

WeRide Inc. (NASDAQ:WRD) shares saw unusually-strong trading volume on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 4,239,271 shares traded hands during trading, a decline of 5% from the previous session’s volume of 4,460,534 shares.The stock last traded at $7.4640 and had previously closed at $6.92.

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

Institutional Trading of WeRide

Hedge funds have recently bought and sold shares of the business. Keystone Investors PTE Ltd. increased its stake in WeRide by 3,516.8% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 842,389 shares of the company’s stock valued at $8,340,000 after purchasing an additional 819,098 shares in the last quarter. Brighton Jones LLC bought a new position in shares of WeRide in the third quarter valued at $4,404,000. Carrhae Capital LLP bought a new position in shares of WeRide in the third quarter valued at $16,153,000. Varma Mutual Pension Insurance Co acquired a new position in shares of WeRide during the third quarter valued at about $6,732,000. Finally, Ariose Capital Management Ltd acquired a new position in shares of WeRide during the third quarter valued at about $2,569,000.

WeRide Stock Down 0.4%

The firm’s 50-day moving average price is $7.46 and its 200 day moving average price is $8.79. The company has a market capitalization of $2.44 billion, a P/E ratio of -10.04 and a beta of 4.36.

WeRide (NASDAQ:WRD) last posted its earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The business had revenue of $44.88 million during the quarter. As a group, equities research analysts expect that WeRide Inc. will post -0.68 EPS for the current year.

WeRide Company 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.