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

WeRide Inc. (NASDAQ:WRD) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.4833.

A number of brokerages recently issued reports on WRD. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. The Goldman Sachs Group began coverage on WeRide in a report on Thursday, April 16th. They issued a “buy” rating for the company. HSBC began coverage on WeRide in a report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price target for the company. BNP Paribas Exane began coverage on WeRide in a report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target for the company. Finally, Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st.

Hedge Funds Weigh In On WeRide

A number of large investors have recently made changes to their positions in WRD. Bank of America Corp DE increased its position in shares of WeRide by 4,926.0% in the 1st 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 during the period. Royal Bank of Canada increased its position in shares of WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after acquiring an additional 1,768 shares during the period. Empowered Funds LLC acquired a new position in shares of WeRide in the 1st quarter valued at $1,461,000. Renaissance Technologies LLC acquired a new position in shares of WeRide in the 1st quarter valued at $663,000. Finally, First Trust Advisors LP increased its position in shares of WeRide by 24.9% in the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock valued at $188,000 after acquiring an additional 4,646 shares during the period.

WeRide Price Performance

Shares of NASDAQ WRD opened at $7.96 on Thursday. The business’s 50 day moving average is $7.63 and its two-hundred day moving average is $7.89. WeRide has a 1-year low of $6.01 and a 1-year high of $12.55. The stock has a market capitalization of $2.50 billion, a P/E ratio of -10.61 and a beta of 1.77.

WeRide (NASDAQ:WRD) last announced its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The business had revenue of $16.55 million for the quarter. As a group, equities research analysts anticipate that WeRide will post -0.57 earnings per share for the current fiscal year.

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.