Temasek Holdings Private Ltd grew its stake in shares of WeRide Inc. (NASDAQ:WRD – Free Report) by 119.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,978,803 shares of the company’s stock after buying an additional 1,623,156 shares during the quarter. Temasek Holdings Private Ltd owned about 0.92% of WeRide worth $25,856,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Verition Fund Management LLC raised its position in shares of WeRide by 478.2% during the 4th quarter. Verition Fund Management LLC now owns 679,898 shares of the company’s stock worth $5,902,000 after buying an additional 562,314 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of WeRide in the 4th quarter worth approximately $95,000. First Trust Advisors LP grew its stake in shares of WeRide by 16.4% in the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after purchasing an additional 2,627 shares during the last quarter. State Street Corp grew its stake in shares of WeRide by 621.4% in the 4th quarter. State Street Corp now owns 950,085 shares of the company’s stock worth $8,247,000 after purchasing an additional 818,385 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of WeRide in the 4th quarter worth approximately $2,724,000.
WeRide Trading Up 5.0%
Shares of WeRide stock opened at $6.48 on Tuesday. The firm has a fifty day simple moving average of $7.46 and a 200-day simple moving average of $7.84. WeRide Inc. has a 1-year low of $6.01 and a 1-year high of $12.55. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -8.64 and a beta of 1.77.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. The Goldman Sachs Group assumed coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. BNP Paribas Exane assumed coverage on shares of WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price objective on the stock. Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research cut shares of WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.48.
WeRide Company Profile
WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.
Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.
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