WeRide (NASDAQ:WRD) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of WeRide (NASDAQ:WRD) from a hold rating to a sell rating in a report issued on Saturday.

A number of other analysts also recently weighed in on WRD. Zacks Research downgraded shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Bank of America reissued a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday. Finally, Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, WeRide has an average rating of “Moderate Buy” and an average price target of $12.32.

WeRide Trading Down 1.7%

WRD opened at $5.85 on Friday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -7.80 and a beta of 1.89. The company has a quick ratio of 7.27, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. WeRide has a twelve month low of $5.18 and a twelve month high of $12.55. The company has a 50-day simple moving average of $5.91 and a 200 day simple moving average of $6.90.

WeRide (NASDAQ:WRD) last released its earnings results on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $34.11 million during the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. Analysts predict that WeRide will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.