WeRide (NASDAQ:WRD) Stock Price Up 7.7% – Should You Buy?

Shares of WeRide Inc. (NASDAQ:WRD) traded up 7.7% on Monday. The company traded as high as $4.45 and last traded at $4.46. 686,538 shares traded hands during trading, a decline of 79% from the average session volume of 3,268,058 shares. The stock had previously closed at $4.14.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America reaffirmed a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research report on Friday, August 14th. Barclays initiated coverage on shares of WeRide in a research report on Thursday, October 22nd. They set an “equal weight” rating and a $4.00 target price on the stock. Wall Street Zen lowered shares of WeRide from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price target on shares of WeRide in a report on Wednesday, August 19th. Finally, Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.35.

WeRide Trading Up 0.7%

The stock’s fifty day moving average is $5.14 and its 200-day moving average is $6.50. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The firm had revenue of $34.11 million during the quarter. On average, research analysts anticipate that WeRide Inc. will post -0.67 EPS for the current year.

Hedge Funds Weigh In On WeRide

A number of hedge funds have recently bought and sold shares of the business. Nykredit A S purchased a new position in shares of WeRide during the 2nd quarter valued at approximately $57,000. SG Americas Securities LLC acquired a new position in WeRide during the first quarter worth $136,000. Royal Bank of Canada raised its position in WeRide by 11.4% during 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 period. Hollencrest Capital Management acquired a new position in WeRide during the first quarter worth $152,000. Finally, First Trust Advisors LP lifted its holdings in WeRide by 24.9% during the first quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock valued at $188,000 after purchasing an additional 4,646 shares in the last quarter.

WeRide Company Profile

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.