Amova Asset Management Americas Inc. Purchases 1,605,657 Shares of WeRide Inc. $WRD

Amova Asset Management Americas Inc. boosted its position in shares of WeRide Inc. (NASDAQ:WRD) by 229.3% during the 1st quarter, HoldingsChannel reports. The firm owned 2,305,997 shares of the company’s stock after buying an additional 1,605,657 shares during the period. Amova Asset Management Americas Inc.’s holdings in WeRide were worth $18,609,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. China UAE Investment Cooperation Fund L.P. bought a new stake in shares of WeRide in the fourth quarter valued at about $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of WeRide by 55.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares during the period. FengHe Fund Management Pte. Ltd. boosted its stake in shares of WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after purchasing an additional 2,776,381 shares in the last quarter. Temasek Holdings Private Ltd increased its holdings in WeRide by 119.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after buying an additional 1,623,156 shares during the period. Finally, UBS Group AG raised its stake in WeRide by 89.2% in the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock worth $24,027,000 after buying an additional 1,305,321 shares in the last quarter.

Analyst Ratings Changes

WRD has been the subject of several recent research reports. HSBC initiated coverage on WeRide in a research report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price target for the company. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. 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 price target for the company. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Finally, The Goldman Sachs Group initiated coverage on shares of WeRide in a research report on Thursday, April 16th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.48.

WeRide Stock Performance

WeRide stock opened at $5.95 on Tuesday. The business’s 50-day simple moving average is $6.47 and its two-hundred day simple moving average is $7.32. The company has a market cap of $1.85 billion, a PE ratio of -7.93 and a beta of 1.92. WeRide Inc. has a fifty-two week low of $5.18 and a fifty-two week high of $12.55.

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. The firm had revenue of $16.55 million during the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. As a group, analysts predict that WeRide Inc. will post -0.55 EPS for the current fiscal 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.