WeRide Inc. (NASDAQ:WRD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of WeRide Inc. (NASDAQ:WRD) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.2667.

A number of equities research analysts recently commented on WRD shares. Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Bank of America reaffirmed a “buy” rating and issued a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price target on shares of WeRide in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th.

Institutional Investors Weigh In On WeRide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after acquiring an additional 3,523,785 shares during the last quarter. Temasek Holdings Private Ltd raised its position in shares of WeRide by 119.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after purchasing an additional 1,623,156 shares during the last quarter. Carrhae Capital LLP boosted its stake in WeRide by 48.4% in the 4th quarter. Carrhae Capital LLP now owns 2,421,132 shares of the company’s stock worth $21,015,000 after purchasing an additional 789,549 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after purchasing an additional 1,605,657 shares in the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in WeRide by 229.3% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after purchasing an additional 1,605,657 shares during the last quarter.

WeRide Stock Performance

WRD stock opened at $5.50 on Friday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -7.33 and a beta of 1.89. The firm has a 50-day simple moving average of $5.90 and a two-hundred day simple moving average of $6.59. WeRide has a one year low of $5.18 and a one year high of $12.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36.

WeRide (NASDAQ:WRD) last released its quarterly earnings results 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, equities analysts forecast that WeRide will post -0.67 EPS for the current fiscal year.

About WeRide

WeRide Inc is a global autonomous driving technology company that develops hardware, software and operating services for vehicles capable of performing driving tasks with limited or no human intervention. The company focuses primarily on Level 2 through Level 4 autonomous driving technologies for passenger transportation, freight and urban services.

Its product portfolio includes robotaxis, robobuses, robovans and autonomous driving systems for logistics and other commercial vehicles. WeRide also develops autonomous sanitation vehicles, including street-sweeping and cleaning vehicles, as well as advanced driver-assistance and autonomous-driving solutions for vehicle manufacturers and mobility operators.

Founded in 2017 and headquartered in Guangzhou, China, WeRide has conducted testing and commercial or pilot operations in multiple markets, including China, Singapore and the United Arab Emirates.