WeRide (NASDAQ:WRD) Stock Rating Upgraded by Wall Street Zen

WeRide (NASDAQ:WRD) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other analysts also recently weighed in on the company. Zacks Research downgraded WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. HSBC began coverage on shares of WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price objective for the company. BNP Paribas Exane initiated coverage on shares of WeRide in a research report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of WeRide in a research note on Thursday, April 16th. They set a “buy” rating on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.48.

WeRide Price Performance

Shares of NASDAQ:WRD opened at $6.35 on Friday. WeRide has a 1 year low of $6.01 and a 1 year high of $12.55. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -8.47 and a beta of 1.77. The company’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $7.79.

WeRide (NASDAQ:WRD) last released its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. The business had revenue of $16.55 million for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. As a group, analysts anticipate that WeRide will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On WeRide

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after buying an additional 3,523,785 shares during the last quarter. Royal Bank of Canada grew its holdings in WeRide by 11.4% during the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock worth $140,000 after acquiring an additional 1,768 shares during the period. Empowered Funds LLC acquired a new stake in WeRide during the 1st quarter worth about $1,461,000. Renaissance Technologies LLC bought a new position in shares of WeRide in the 1st quarter worth about $663,000. Finally, First Trust Advisors LP raised 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 worth $188,000 after acquiring an additional 4,646 shares in the last quarter.

About WeRide

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.