WeRide (NASDAQ:WRD) Stock Price Down 7.3% – What’s Next?

Shares of WeRide Inc. (NASDAQ:WRD) were down 7.3% during mid-day trading on Monday . The company traded as low as $6.04 and last traded at $5.9770. 278,124 shares changed hands during trading, a decline of 92% from the average daily volume of 3,447,454 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Weiss Ratings lowered WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Bank of America reaffirmed a “buy” rating and issued a $10.70 target price on shares of WeRide in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, WeRide has an average rating of “Moderate Buy” and a consensus target price of $12.27.

WeRide Price Performance

The stock’s 50-day moving average is $5.89 and its 200 day moving average is $6.82. The stock has a market capitalization of $1.85 billion, a PE ratio of -7.93 and a beta of 1.89. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WRD. Royal Bank of Canada increased its holdings in 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 buying an additional 1,768 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in WeRide in the first quarter valued at approximately $27,000. First Trust Advisors LP grew its position in WeRide by 16.4% in the fourth quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after acquiring an additional 2,627 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in WeRide in the second quarter worth approximately $30,000. Finally, Leonteq Securities AG acquired a new position in shares of WeRide during the 4th quarter worth $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.