WeRide Inc. (NASDAQ:WRD – Get Free Report) shares reached a new 52-week low on Wednesday. The company traded as low as $4.43 and last traded at $4.4150, with a volume of 53,887 shares trading hands. The stock had previously closed at $4.52.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on WRD shares. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Bank of America restated a “buy” rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.62.
View Our Latest Analysis on WeRide
WeRide Stock Performance
WeRide (NASDAQ:WRD – Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. The firm had revenue of $34.11 million during the quarter. On average, research analysts predict that WeRide Inc. will post -0.67 earnings per share for the current year.
Institutional Trading of WeRide
A number of institutional investors have recently modified their holdings of the company. Green Alpha Advisors LLC purchased a new stake in WeRide during the third quarter valued at approximately $421,000. Squarepoint Ops LLC purchased a new stake in shares of WeRide in the second quarter worth about $517,000. Nykredit A S acquired a new position in WeRide in the second quarter valued at approximately $57,000. Concurrent Investment Advisors LLC lifted its stake in shares of WeRide by 31.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock valued at $269,000 after purchasing an additional 11,000 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of WeRide by 586.3% during the 2nd quarter. Headlands Technologies LLC now owns 104,585 shares of the company’s stock worth $609,000 after acquiring an additional 89,347 shares in the last quarter.
WeRide Company Profile
WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.
Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.
WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.
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