WeRide Inc. (NASDAQ:WRD – Get Free Report)’s share price was down 4.5% during trading on Tuesday. The company traded as low as $5.28 and last traded at $5.2810. 441,220 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 3,303,232 shares. The stock had previously closed at $5.53.
Analyst Ratings Changes
A number of analysts have recently weighed in on WRD shares. Morgan Stanley restated an “overweight” rating and issued a $12.00 price target on shares of WeRide in a report on Wednesday, August 19th. Bank of America reissued a “buy” rating and set a $10.70 target price on shares of WeRide in a research report on Friday, August 14th. Weiss Ratings upgraded shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.62.
Read Our Latest Stock Report on WeRide
WeRide Stock Down 5.0%
WeRide (NASDAQ:WRD – Get Free Report) last issued 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%. Sell-side analysts anticipate that WeRide Inc. will post -0.67 earnings per share for the current year.
Hedge Funds Weigh In On WeRide
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in WeRide by 4,926.0% during 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. Temasek Holdings Private Ltd increased its stake in shares of WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after acquiring an additional 1,623,156 shares during the period. Amova Asset Management Americas Inc. raised 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 last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 last quarter. Finally, Styrax Capital LP acquired a new position in WeRide during the fourth quarter valued at $11,795,000.
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.
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