WeRide (NASDAQ:WRD) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of WeRide (NASDAQ:WRD) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts have also weighed in on WRD. Bank of America restated a “buy” rating and issued a $10.70 target price on shares of WeRide in a research report on Friday, August 14th. Barclays initiated coverage on shares of WeRide in a report on Thursday, October 22nd. They set an “equal weight” rating and a $4.00 price target for the company. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $12.00 price target on shares of WeRide in a research note on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WeRide presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.35.

WeRide Price Performance

WRD opened at $4.18 on Friday. The company’s 50 day moving average is $5.39 and its 200-day moving average is $6.68. WeRide has a 1-year low of $4.03 and a 1-year high of $12.13. 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 announced its quarterly 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 for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. As a group, equities analysts expect that WeRide will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WeRide

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in WeRide by 4,926.0% in the 1st quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after acquiring an additional 3,523,785 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of WeRide by 229.3% during the first 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 during the period. Amova Asset Management Americas Inc. lifted its holdings in shares of WeRide by 229.3% during the first 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 period. California Public Employees Retirement System bought a new stake in shares of WeRide in the first quarter worth $1,845,000. Finally, Empowered Funds LLC bought a new stake in shares of WeRide in the first quarter worth $1,461,000.

About WeRide

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.