313,879 Shares in WeRide Inc. $WRD Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC acquired a new position in WeRide Inc. (NASDAQ:WRD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 313,879 shares of the company’s stock, valued at approximately $2,724,000. HITE Hedge Asset Management LLC owned about 0.10% of WeRide as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WRD. China UAE Investment Cooperation Fund L.P. purchased a new stake in WeRide in the 4th quarter worth about $67,443,000. FengHe Fund Management Pte. Ltd. increased its holdings in WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after acquiring an additional 2,776,381 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. bought a new position in WeRide in the 3rd quarter worth about $26,574,000. Mercer Global Advisors Inc. ADV bought a new position in WeRide in the 3rd quarter worth about $25,931,000. Finally, Marshall Wace LLP boosted its stake in WeRide by 4,869.5% in the 3rd quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock worth $20,348,000 after purchasing an additional 2,014,010 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on WRD. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. HSBC began coverage on WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 target price for the company. The Goldman Sachs Group began coverage on WeRide in a research note on Thursday, April 16th. They issued a “buy” rating for the company. Zacks Research downgraded WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, BNP Paribas Exane began coverage on WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.48.

WeRide Trading Down 1.9%

Shares of WRD opened at $6.17 on Friday. The company has a market cap of $1.93 billion, a PE ratio of -8.23 and a beta of 1.77. The stock has a 50-day moving average price of $7.48 and a 200-day moving average price of $7.85. WeRide Inc. has a 12-month low of $6.01 and a 12-month high of $12.55.

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

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.