WeRide (NASDAQ:WRD) Stock Price Down 6.5% – Should You Sell?

WeRide Inc. (NASDAQ:WRD)’s stock price was down 6.5% during trading on Thursday . The company traded as low as $7.36 and last traded at $7.4450. Approximately 783,781 shares were traded during trading, a decline of 80% from the average daily volume of 3,904,169 shares. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WRD shares. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. The Goldman Sachs Group began coverage on WeRide in a research report on Thursday, April 16th. They set a “buy” rating for the company. BNP Paribas Exane began coverage on WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective for the company. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, HSBC began coverage on WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, WeRide presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Stock Performance

The firm has a 50-day moving average price of $7.63 and a 200-day moving average price of $7.89. The stock has a market cap of $2.30 billion, a PE ratio of -9.78 and a beta of 1.77.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The firm had revenue of $16.55 million for the quarter. As a group, sell-side analysts anticipate that WeRide Inc. will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On WeRide

Hedge funds have recently bought and sold shares of the business. China UAE Investment Cooperation Fund L.P. bought a new position in shares of WeRide in the 4th quarter worth approximately $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of WeRide by 55.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares during the period. FengHe Fund Management Pte. Ltd. lifted its stake in shares of WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after purchasing an additional 2,776,381 shares during the period. Bank of America Corp DE lifted its stake in shares of WeRide by 4,926.0% in the 1st quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after purchasing an additional 3,523,785 shares during the period. Finally, Temasek Holdings Private Ltd lifted its stake in shares of WeRide by 119.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after purchasing an additional 1,623,156 shares during the period.

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.