WeRide Inc. (NASDAQ:WRD – Get Free Report)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $4.95 and last traded at $4.9550, with a volume of 573949 shares. The stock had previously closed at $5.12.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on WRD shares. Weiss Ratings raised shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Bank of America restated a “buy” rating and issued a $10.70 target price on shares of WeRide in a research note on Friday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.62.
Get Our Latest Research Report on WeRide
WeRide Price Performance
WeRide (NASDAQ:WRD – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $34.11 million for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. Research analysts anticipate that WeRide Inc. will post -0.67 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in WRD. Bank of America Corp DE boosted its holdings in shares of WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after acquiring an additional 3,523,785 shares in the last quarter. Temasek Holdings Private Ltd lifted its position in WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after purchasing an additional 1,623,156 shares during the period. Amova Asset Management Americas Inc. boosted its stake in WeRide by 229.3% during 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. Sumitomo Mitsui Trust Group Inc. boosted its stake in WeRide by 229.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock valued at $18,656,000 after purchasing an additional 1,605,657 shares in the last quarter. Finally, Styrax Capital LP acquired a new position in shares of WeRide during the 4th quarter valued at $11,795,000.
About WeRide
WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.
Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.
WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.
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