WeRide Inc. (NASDAQ:WRD – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $12.4833.
Several research analysts recently weighed in on WRD shares. Zacks Research cut shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. HSBC initiated coverage on shares of WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price objective for the company. Weiss Ratings raised shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. BNP Paribas Exane initiated coverage on WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on WeRide in a report on Thursday, April 16th. They issued a “buy” rating for the company.
Read Our Latest Stock Analysis on WeRide
WeRide Stock Performance
WeRide (NASDAQ:WRD – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The firm had revenue of $16.55 million for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. As a group, sell-side analysts predict that WeRide will post -0.59 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake 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 during the period. Royal Bank of Canada grew its position in WeRide by 11.4% during the first quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after buying an additional 1,768 shares during the period. Empowered Funds LLC purchased a new stake in WeRide during the first quarter worth about $1,461,000. Renaissance Technologies LLC purchased a new stake in WeRide during the first quarter worth about $663,000. Finally, First Trust Advisors LP raised its position in WeRide by 24.9% in the first quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock worth $188,000 after acquiring an additional 4,646 shares during the period.
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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