WeRide Inc. (NASDAQ:WRD) Short Interest Down 32.1% in September

WeRide Inc. (NASDAQ:WRD) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 6,060,000 shares, a decrease of 32.1% from the September 15th total of 8,930,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 7,220,000 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 7,220,000 shares, the short-interest ratio is currently 0.8 days. Currently, 2.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

WRD has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a report on Wednesday, October 8th. UBS Group initiated coverage on shares of WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 target price on the stock. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Citigroup initiated coverage on shares of WeRide in a report on Monday, September 29th. They set a “buy” rating and a $15.50 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.75.

WeRide Stock Up 3.0%

Shares of WeRide stock opened at $10.12 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00. The firm’s 50-day moving average is $10.19 and its two-hundred day moving average is $9.26. The stock has a market cap of $2.98 billion and a price-to-earnings ratio of -3.63.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. The firm had revenue of $17.75 million during the quarter. As a group, research analysts expect that WeRide will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of WeRide

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in shares of WeRide in the 1st quarter valued at about $27,000. SBI Securities Co. Ltd. raised its position in WeRide by 1,263.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock worth $28,000 after buying an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in WeRide during the 2nd quarter worth approximately $30,000. Gordian Capital Singapore Pte Ltd purchased a new position in WeRide during the 1st quarter worth approximately $56,000. Finally, Levin Capital Strategies L.P. purchased a new position in WeRide during the 2nd quarter worth approximately $79,000.

WeRide Company Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.