Sumitomo Mitsui Trust Group Inc. Invests $6.08 Million in WeRide Inc. $WRD

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of WeRide Inc. (NASDAQ:WRD) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 700,340 shares of the company’s stock, valued at approximately $6,079,000.

Other institutional investors have also recently made changes to their positions in the company. Yarbrough Capital LLC purchased a new position in WeRide during the 4th quarter worth $524,000. BlueCrest Capital Management Ltd increased its position in WeRide by 147.2% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 46,175 shares of the company’s stock valued at $457,000 after buying an additional 27,497 shares in the last quarter. Carrhae Capital LLP purchased a new stake in WeRide in the third quarter valued at about $16,153,000. Prelude Capital Management LLC purchased a new stake in WeRide in the third quarter valued at about $161,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in WeRide in the third quarter worth about $25,931,000.

WeRide Stock Performance

Shares of WRD opened at $8.21 on Friday. The stock has a 50-day moving average of $7.25 and a two-hundred day moving average of $8.48. The stock has a market cap of $2.61 billion, a P/E ratio of -10.95 and a beta of 2.95. WeRide Inc. has a one year low of $6.01 and a one year high of $12.55.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. The firm had revenue of $44.88 million during the quarter. Analysts predict that WeRide Inc. will post -0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

WRD has been the topic of a number of research analyst reports. BNP Paribas Exane initiated coverage on WeRide in a research note on Thursday, March 26th. They set an “outperform” rating and a $11.00 price target on the stock. HSBC started coverage on shares of WeRide in a research report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price objective for the company. Citigroup reissued a “buy” rating on shares of WeRide in a research report on Monday, January 19th. CLSA initiated coverage on shares of WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price target on the stock. Finally, Zacks Research raised shares of WeRide from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.48.

WeRide 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.