WeRide Inc. (NASDAQ:WRD – Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.03 and last traded at $4.1850, with a volume of 400,323 shares. The stock had previously closed at $4.27.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on WRD shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Bank of America reissued a “buy” rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Barclays initiated coverage on WeRide in a research report on Thursday. They issued an “equal weight” rating and a $4.00 price target on the stock. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Finally, Wall Street Zen downgraded WeRide from a “sell” rating to a “strong sell” rating in a research note on Saturday. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.35.
Read Our Latest Research Report on WRD
WeRide Trading Up 1.0%
The firm has a market cap of $1.30 billion, a PE ratio of -5.56 and a beta of 1.90. The company’s fifty day moving average price is $5.39 and its two-hundred day moving average price is $6.24. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.
WeRide (NASDAQ:WRD – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The firm had revenue of $34.11 million during the quarter. As a group, sell-side analysts forecast that WeRide Inc. will post -0.67 earnings per share for the current fiscal year.
Hedge Funds Weigh In On WeRide
A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of 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 worth $29,086,000 after purchasing an additional 3,523,785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of WeRide by 229.3% during the 1st 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. increased its holdings in shares of WeRide by 229.3% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock valued at $18,609,000 after purchasing an additional 1,605,657 shares in the last quarter. California Public Employees Retirement System purchased a new position in shares of WeRide in the 1st quarter valued at about $1,845,000. Finally, Empowered Funds LLC purchased a new position in shares of WeRide in the 1st quarter valued at about $1,461,000.
WeRide Company Profile
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.
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