WeRide Inc. (NASDAQ:WRD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

WeRide Inc. (NASDAQ:WRD) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.1250.

Several analysts have commented on the stock. Citigroup restated a “buy” rating on shares of WeRide in a research note on Monday, January 19th. CLSA started coverage on shares of WeRide in a report on Monday, January 5th. They set an “outperform” rating and a $13.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a report on Monday, December 29th. Finally, Bank of America began coverage on WeRide in a research note on Monday, December 1st. They set a “buy” rating and a $12.00 price objective for the company.

Institutional Inflows and Outflows

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

WeRide Stock Up 1.9%

Shares of NASDAQ WRD opened at $6.35 on Friday. The business’s 50 day moving average price is $7.57 and its 200 day moving average price is $8.82. The firm has a market cap of $2.06 billion, a P/E ratio of -7.56 and a beta of 4.36. WeRide has a 52 week low of $6.02 and a 52 week high of $16.86.

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.