WeRide (NASDAQ:WRD) Releases Quarterly Earnings Results

WeRide (NASDAQ:WRD) issued its quarterly earnings data on Monday. The company reported ($0.15) earnings per share (EPS) for the quarter, Zacks reports. WeRide had a negative return on equity of 49.24% and a negative net margin of 595.64%.

WeRide Trading Up 14.7%

Shares of NASDAQ:WRD opened at $8.26 on Tuesday. The company has a market cap of $2.68 billion and a P/E ratio of -2.96. The stock’s 50-day moving average is $9.91 and its 200-day moving average is $9.36. WeRide has a 52-week low of $6.03 and a 52-week high of $44.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WRD shares. Citigroup assumed coverage on WeRide in a report on Monday, September 29th. They set a “buy” rating and a $15.50 target price on the stock. UBS Group started coverage on WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, WeRide has an average rating of “Hold” and an average price target of $13.75.

Institutional Trading of WeRide

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in WeRide in the 1st quarter valued at approximately $27,000. JPMorgan Chase & Co. bought a new stake in shares of WeRide in the second quarter valued at approximately $30,000. First Trust Advisors LP bought a new stake in shares of WeRide in the second quarter valued at approximately $98,000. Marshall Wace LLP acquired a new stake in shares of WeRide in the second quarter worth $326,000. Finally, Vienna Asset Management LLC bought a new position in WeRide during the second quarter worth $1,128,000.

WeRide Company Profile

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.