Amova Asset Management Americas Inc. Acquires Shares of 700,340 WeRide Inc. $WRD

Amova Asset Management Americas Inc. purchased a new position in WeRide Inc. (NASDAQ:WRD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 700,340 shares of the company’s stock, valued at approximately $6,093,000.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in shares of WeRide in the first quarter worth approximately $27,000. JPMorgan Chase & Co. purchased a new stake in shares of WeRide in the second quarter worth approximately $30,000. Leonteq Securities AG purchased a new stake in shares of WeRide in the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. lifted its position in shares of WeRide by 37.6% in the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after purchasing an additional 1,339 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of WeRide in the fourth quarter worth approximately $65,000.

WeRide Stock Down 1.4%

NASDAQ:WRD opened at $6.47 on Wednesday. WeRide Inc. has a 12 month low of $6.01 and a 12 month high of $12.55. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -8.63 and a beta of 1.77. The company’s 50 day moving average is $7.57 and its 200-day moving average is $7.88.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. The firm had revenue of $16.55 million during the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. Research analysts predict that WeRide Inc. will post -0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. BNP Paribas Exane started coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective on the stock. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, HSBC started coverage on shares of WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide 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.