WeRide (NASDAQ:WRD) Reaches New 52-Week Low – Here’s What Happened

WeRide Inc. (NASDAQ:WRD) shares hit a new 52-week low on Tuesday . The company traded as low as $5.90 and last traded at $5.8270, with a volume of 118452 shares changing hands. The stock had previously closed at $6.03.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings upgraded shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group began coverage on WeRide in a report on Thursday, April 16th. They set a “buy” rating for the company. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, BNP Paribas Exane started coverage on WeRide in a report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Stock Down 2.4%

The company has a market cap of $1.84 billion, a price-to-earnings ratio of -7.85 and a beta of 1.77. The business’s fifty day simple moving average is $7.32 and its two-hundred day simple moving average is $7.77.

WeRide (NASDAQ:WRD) last issued its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $16.55 million during the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. Sell-side analysts predict that WeRide Inc. will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On WeRide

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after purchasing an additional 1,768 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the 1st quarter valued at about $27,000. First Trust Advisors LP grew its stake in WeRide by 16.4% during the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after buying an additional 2,627 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in WeRide during the 2nd quarter worth approximately $30,000. Finally, Leonteq Securities AG acquired a new position in WeRide during the fourth quarter worth approximately $36,000.

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.