WeRide Inc. (NASDAQ:WRD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

WeRide Inc. (NASDAQ:WRD) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $12.4833.

Several analysts recently issued reports on the company. HSBC assumed coverage on WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective for the company. The Goldman Sachs Group assumed coverage on WeRide in a report on Thursday, April 16th. They set a “buy” rating for the company. BNP Paribas Exane assumed coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 target price on the stock. Zacks Research downgraded shares of WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th.

WeRide Stock Performance

Shares of NASDAQ:WRD opened at $5.50 on Monday. WeRide has a 1 year low of $5.18 and a 1 year high of $12.55. The business has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $7.66. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -7.33 and a beta of 1.77.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%.The firm had revenue of $16.55 million for the quarter. On average, sell-side analysts forecast that WeRide will post -0.59 EPS for the current year.

Hedge Funds Weigh In On WeRide

Several hedge funds have recently bought and sold shares of WRD. China UAE Investment Cooperation Fund L.P. acquired a new position in WeRide during the fourth quarter worth $67,443,000. Bank of America Corp DE increased its position 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. FengHe Fund Management Pte. Ltd. increased its position in WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after buying an additional 2,776,381 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in WeRide during the third quarter worth $25,931,000. Finally, Marshall Wace LLP increased its position in WeRide by 4,869.5% during the third quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock worth $20,348,000 after buying an additional 2,014,010 shares during the last quarter.

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.