Traders Buy Large Volume of Call Options on WeRide (NASDAQ:WRD)

WeRide Inc. (NASDAQ:WRD) was the target of unusually large options trading on Monday. Stock traders bought 9,143 call options on the stock. This represents an increase of approximately 245% compared to the typical daily volume of 2,648 call options.

Analysts Set New Price Targets

Several research firms have recently weighed in on WRD. The Goldman Sachs Group started coverage on shares of WeRide in a report on Thursday, April 16th. They set a “buy” rating for the company. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings upgraded shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Zacks Research cut shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, HSBC assumed coverage on shares of WeRide in a research report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.48.

Hedge Funds Weigh In On WeRide

A number of large investors have recently added to or reduced their stakes in WRD. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the first quarter valued at about $27,000. JPMorgan Chase & Co. acquired a new stake in WeRide in the 2nd quarter worth about $30,000. Blue Trust Inc. purchased a new stake in WeRide during the 1st quarter worth approximately $34,000. Leonteq Securities AG purchased a new stake in WeRide during the 4th quarter worth approximately $36,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of WeRide during the fourth quarter valued at approximately $65,000.

WeRide Trading Down 3.4%

WRD traded down $0.21 during trading on Monday, hitting $6.13. The company’s stock had a trading volume of 1,392,902 shares, compared to its average volume of 3,830,819. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -8.18 and a beta of 1.77. WeRide has a twelve month low of $6.01 and a twelve month high of $12.55. The business’s fifty day simple moving average is $7.35 and its 200 day simple moving average is $7.79.

WeRide (NASDAQ:WRD) last announced its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%.The business had revenue of $16.55 million for the quarter. As a group, equities research analysts forecast that WeRide will post -0.59 earnings per share for the current fiscal year.

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.