WeRide (NASDAQ:WRD) Stock Price Down 6.5% – What’s Next?

WeRide Inc. (NASDAQ:WRD) dropped 6.5% during trading on Thursday . The company traded as low as $7.36 and last traded at $7.4450. Approximately 783,781 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,904,169 shares. The stock had previously closed at $7.96.

Analyst Upgrades and Downgrades

WRD has been the topic of a number of research reports. Zacks Research downgraded shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. HSBC began coverage on shares of WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price target on the stock. BNP Paribas Exane began coverage on shares of WeRide in a report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price target on the stock. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Finally, The Goldman Sachs Group began coverage on shares of WeRide in a report on Thursday, April 16th. They set a “buy” rating on the stock. Seven equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Price Performance

The stock’s fifty day moving average price is $7.61 and its 200-day moving average price is $7.88. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -8.80 and a beta of 1.77.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) EPS 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. As a group, equities research analysts predict that WeRide Inc. will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC bought a new stake in WeRide in the 1st quarter valued at $27,000. JPMorgan Chase & Co. bought a new stake in WeRide in the 2nd quarter valued at $30,000. Blue Trust Inc. bought a new stake in WeRide in the 1st quarter valued at $34,000. Leonteq Securities AG bought a new stake in WeRide in the 4th quarter valued at $36,000. Finally, SBI Securities Co. Ltd. boosted its holdings in WeRide by 37.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after purchasing an additional 1,339 shares during the period.

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.