WeRide Inc. (NASDAQ:WRD) Receives Average Rating of “Moderate Buy” from Brokerages

WeRide Inc. (NASDAQ:WRD) has been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.1250.

WRD has been the topic of a number of research reports. Citigroup reissued a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. CLSA started coverage on WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Bank of America began coverage on WeRide in a research report on Monday, December 1st. They issued a “buy” rating and a $12.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in WeRide during the 1st quarter worth $27,000. SBI Securities Co. Ltd. boosted its holdings in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock valued at $28,000 after purchasing an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in WeRide during the 2nd quarter valued at approximately $30,000. Leonteq Securities AG purchased a new stake in WeRide during the 4th quarter worth approximately $36,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of WeRide in the 4th quarter valued at approximately $65,000.

WeRide Stock Performance

NASDAQ WRD opened at $7.34 on Tuesday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -8.74 and a beta of 4.33. WeRide has a one year low of $6.03 and a one year high of $28.17. The company’s 50 day moving average price is $8.48 and its 200 day moving average price is $9.19.

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.