California Public Employees Retirement System Purchases Shares of 228,058 WeRide Inc. $WRD

California Public Employees Retirement System purchased a new position in shares of WeRide Inc. (NASDAQ:WRD) in the first quarter, according to its most recent filing with the SEC. The firm purchased 228,058 shares of the company’s stock, valued at approximately $1,845,000.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of WeRide in the 1st quarter worth about $27,000. First Trust Advisors LP boosted its position in shares of WeRide by 16.4% during the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock valued at $162,000 after purchasing an additional 2,627 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of WeRide during the 2nd quarter valued at about $30,000. Leonteq Securities AG acquired a new stake in WeRide during the fourth quarter worth approximately $36,000. Finally, Blue Trust Inc. acquired a new stake in WeRide during the first quarter worth approximately $34,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WRD shares. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. The Goldman Sachs Group began coverage on WeRide in a report on Thursday, April 16th. They set a “buy” rating on the stock. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a research note on Sunday, June 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 target price on the stock. Seven 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’s stock. According to MarketBeat.com, WeRide presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.48.

WeRide Price Performance

NASDAQ:WRD opened at $5.32 on Monday. The firm has a 50-day moving average of $6.32 and a 200-day moving average of $7.23. The company has a market cap of $1.65 billion, a PE ratio of -7.09 and a beta of 1.92. WeRide Inc. has a one year low of $5.18 and a one year high of $12.55.

WeRide (NASDAQ:WRD) last posted its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%.The business had revenue of $16.55 million during the quarter. On average, equities research analysts expect that WeRide Inc. will post -0.55 earnings per share 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.