Carrhae Capital LLP Purchases 789,549 Shares of WeRide Inc. $WRD

Carrhae Capital LLP raised its position in shares of WeRide Inc. (NASDAQ:WRD) by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,421,132 shares of the company’s stock after buying an additional 789,549 shares during the quarter. WeRide comprises about 0.8% of Carrhae Capital LLP’s investment portfolio, making the stock its 26th largest holding. Carrhae Capital LLP owned approximately 0.75% of WeRide worth $21,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in WeRide by 37.6% in the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after acquiring an additional 1,339 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the 1st quarter worth $27,000. First Trust Advisors LP grew its stake in WeRide by 28.3% during the 3rd quarter. First Trust Advisors LP now owns 16,005 shares of the company’s stock worth $158,000 after buying an additional 3,535 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in WeRide during the 2nd quarter valued at about $30,000. Finally, Leonteq Securities AG purchased a new stake in WeRide in the fourth quarter valued at about $36,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WRD shares. BNP Paribas Exane began coverage on WeRide in a research note on Thursday, March 26th. They set an “outperform” rating and a $11.00 price target on the stock. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group initiated coverage on shares of WeRide in a report on Thursday, April 16th. They issued a “buy” rating for the company. HSBC began coverage on shares of WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective on the stock. Finally, Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WeRide presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Stock Down 0.5%

Shares of WRD stock opened at $7.34 on Friday. WeRide Inc. has a 52-week low of $6.01 and a 52-week high of $12.55. The stock has a market cap of $2.32 billion, a PE ratio of -9.79 and a beta of 1.88. The business has a 50-day simple moving average of $7.47 and a 200-day simple moving average of $7.95.

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

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.