WeRide (NASDAQ:WRD) Rating Increased to Hold at Wall Street Zen

WeRide (NASDAQ:WRD) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

WeRide Price Performance

Shares of NASDAQ WRD opened at $8.16 on Friday. WeRide has a twelve month low of $6.03 and a twelve month high of $44.00. The company has a 50 day moving average price of $8.80.

WeRide (NASDAQ:WRD) last released its earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $9.98 million during the quarter. As a group, sell-side analysts anticipate that WeRide will post -0.68 earnings per share for the current year.

WeRide announced that its board has approved a share buyback program on Wednesday, May 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of WeRide

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of WeRide in the first quarter valued at $40,315,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of WeRide in the first quarter valued at $12,178,000. Virtu Financial LLC purchased a new stake in shares of WeRide in the first quarter valued at $723,000. Concurrent Investment Advisors LLC purchased a new stake in shares of WeRide in the first quarter valued at $201,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of WeRide in the first quarter valued at $182,000.

About WeRide

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.