248,231 Shares in WeRide Inc. $WRD Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of WeRide Inc. (NASDAQ:WRD) during the 4th quarter, Holdings Channel.com reports. The firm purchased 248,231 shares of the company’s stock, valued at approximately $2,331,000.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in shares of WeRide during the 1st quarter worth approximately $27,000. JPMorgan Chase & Co. acquired a new stake in shares of WeRide during the 2nd quarter worth approximately $30,000. SBI Securities Co. Ltd. lifted its stake 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 last quarter. LMR Partners LLP bought a new position in WeRide in the 2nd quarter valued at approximately $85,000. Finally, First Trust Advisors LP bought a new position in WeRide in the 2nd quarter valued at approximately $98,000.

Analysts Set New Price Targets

Several brokerages recently commented on WRD. Citigroup reissued a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Wall Street Zen downgraded shares of WeRide from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. BNP Paribas Exane began coverage on shares of WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price objective for the company. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.48.

WeRide Stock Performance

WRD stock opened at $7.76 on Tuesday. The company has a fifty day moving average price of $7.34 and a 200-day moving average price of $8.15. The company has a market capitalization of $2.46 billion, a P/E ratio of -10.35 and a beta of 1.88. WeRide Inc. has a 52-week low of $6.01 and a 52-week high of $12.55.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $44.88 million for the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. As a group, sell-side analysts forecast that WeRide Inc. will post -1.29 earnings per share for the current fiscal 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.