WeRide (NASDAQ:WRD) Sets New 1-Year Low – Time to Sell?

WeRide Inc. (NASDAQ:WRD) shares hit a new 52-week low during trading on Thursday . The company traded as low as $6.02 and last traded at $6.0640, with a volume of 2753485 shares. The stock had previously closed at $6.26.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WRD shares. CLSA assumed coverage on WeRide in a report on Monday, January 5th. They issued an “outperform” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Bank of America started coverage on WeRide in a research note on Monday, December 1st. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a report on Monday, January 19th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, WeRide presently has a consensus rating of “Moderate Buy” and an average price target of $13.13.

WeRide Stock Performance

The business has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $8.86. The stock has a market cap of $1.97 billion, a PE ratio of -7.26 and a beta of 4.36.

Institutional Investors Weigh In On WeRide

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new position in shares of WeRide in the 1st quarter worth about $27,000. SBI Securities Co. Ltd. raised its position in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock worth $28,000 after acquiring an additional 3,298 shares during the period. JPMorgan Chase & Co. purchased a new position in WeRide in the second quarter valued at about $30,000. Leonteq Securities AG purchased a new position in WeRide in the fourth quarter valued at about $36,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of WeRide during the 4th quarter valued at approximately $65,000.

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.