WeRide Inc. (NASDAQ:WRD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WeRide Inc. (NASDAQ:WRD) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.4833.

Several equities analysts have commented on the stock. BNP Paribas Exane assumed coverage on shares of WeRide in a research note on Thursday, March 26th. They set an “outperform” rating and a $11.00 target price on the stock. Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Zacks Research cut shares of WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, The Goldman Sachs Group assumed coverage on shares of WeRide in a research note on Thursday, April 16th. They set a “buy” rating on the stock.

WeRide Trading Down 0.6%

WeRide stock opened at $6.56 on Thursday. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -8.75 and a beta of 1.77. The company’s 50-day moving average price is $7.58 and its two-hundred day moving average price is $7.88. WeRide has a 52 week low of $6.01 and a 52 week high of $12.55.

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

Hedge Funds Weigh In On WeRide

Several hedge funds have recently made changes to their positions in WRD. NewEdge Advisors LLC acquired a new position in shares of WeRide in the 1st quarter worth approximately $27,000. JPMorgan Chase & Co. acquired a new position in shares of WeRide in the 2nd quarter worth approximately $30,000. Blue Trust Inc. acquired a new position in shares of WeRide in the 1st quarter worth approximately $34,000. Leonteq Securities AG acquired a new position in shares of WeRide in the 4th quarter worth approximately $36,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of WeRide by 37.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after purchasing an additional 1,339 shares during the last quarter.

About WeRide

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.