WeRide Inc. (NASDAQ:WRD) Given Consensus Rating of “Moderate Buy” by Brokerages

WeRide Inc. (NASDAQ:WRD) has been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $13.1250.

Several research analysts have commented on the stock. CLSA assumed coverage on shares of WeRide in a research report on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective for the company. Bank of America began coverage on WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a report on Monday, December 29th. Finally, Citigroup started coverage on WeRide in a research note on Monday, September 29th. They issued a “buy” rating and a $15.50 price objective on the stock.

WeRide Trading Down 1.3%

Shares of WeRide stock opened at $9.64 on Monday. The company has a market cap of $3.12 billion, a PE ratio of -11.48 and a beta of 4.32. The company has a 50 day moving average of $8.61 and a 200-day moving average of $9.33. WeRide has a 1-year low of $6.03 and a 1-year high of $44.00.

Institutional Investors Weigh In On WeRide

Several hedge funds and other institutional investors have recently made changes to their positions in WRD. NewEdge Advisors LLC bought a new position in WeRide in the 1st quarter valued at approximately $27,000. SBI Securities Co. Ltd. grew its stake in shares of WeRide by 1,263.6% during the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock worth $28,000 after buying an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of WeRide during the second quarter worth $30,000. Levin Capital Strategies L.P. acquired a new position in shares of WeRide during the second quarter worth $79,000. Finally, Profund Advisors LLC bought a new position in shares of WeRide in the 3rd quarter valued at $102,000.

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.