WeRide (NASDAQ:WRD) Sees Strong Trading Volume Following Analyst Upgrade

Shares of WeRide Inc. (NASDAQ:WRD) saw an uptick in trading volume on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 4,239,271 shares changed hands during trading, a decline of 5% from the previous session’s volume of 4,460,534 shares.The stock last traded at $7.4640 and had previously closed at $6.92.

A number of other analysts have also commented on WRD. Citigroup restated a “buy” rating on shares of WeRide in a report on Monday, January 19th. Bank of America assumed coverage on WeRide in a research report on Monday, December 1st. They issued a “buy” rating and a $12.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th. Finally, CLSA assumed coverage on WeRide in a research report on Monday, January 5th. They set an “outperform” rating and a $13.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Institutional Trading of WeRide

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in WeRide during the first quarter worth about $27,000. JPMorgan Chase & Co. bought a new position in WeRide in the second quarter valued at approximately $30,000. Leonteq Securities AG acquired a new position in shares of WeRide during the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. increased its position in shares of WeRide by 37.6% during 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. Finally, Daiwa Securities Group Inc. bought a new stake in shares of WeRide during the 4th quarter worth approximately $65,000.

WeRide Trading Down 0.4%

The company has a market cap of $2.44 billion, a P/E ratio of -10.04 and a beta of 4.36. The business has a 50 day moving average price of $7.46 and a 200-day moving average price of $8.79.

WeRide (NASDAQ:WRD) last released its earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $44.88 million during the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. On average, sell-side analysts expect that WeRide Inc. will post -0.68 earnings per share for the current year.

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.