WeRide (NASDAQ:WRD) Stock Lifted to Sell by Wall Street Zen

Key Points

• Wall Street Zen upgraded WeRide from “strong sell” to “sell.” Despite this, MarketBeat’s analyst consensus remains “Moderate Buy,” with a $10.35 average price target.
• WRD opened at $4.14 after a 1.4% decline, near its 52-week low of $3.94; its 52-week high is $10.02.
• WeRide reported quarterly revenue of $34.11 million and a loss of $0.18 per share, alongside a negative net margin of 199.09%.

WeRide (NASDAQ:WRD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 9th. Barclays assumed coverage on shares of WeRide in a research report on Thursday, October 22nd. They set an "equal weight" rating and a $4.00 target price on the stock. Bank of America reaffirmed a "buy" rating and issued a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $12.00 price target on shares of WeRide in a research report on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.35.

WeRide Stock Down 1.4%

Shares of WRD opened at $4.14 on Friday. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. WeRide has a 1 year low of $3.94 and a 1 year high of $10.02. The business's 50 day simple moving average is $4.89 and its 200-day simple moving average is $6.32.

WeRide (NASDAQ:WRD - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $34.11 million during the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. Equities research analysts anticipate that WeRide will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WRD. Bank of America Corp DE grew its position in shares of WeRide by 4,926.0% during the 1st quarter. Bank of America Corp DE now owns 3,595,319 shares of the company's stock worth $29,086,000 after buying an additional 3,523,785 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of WeRide by 229.3% in the first quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company's stock valued at $18,609,000 after acquiring an additional 1,605,657 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of WeRide by 31.7% in the third quarter. Empowered Funds LLC now owns 533,364 shares of the company's stock valued at $2,832,000 after acquiring an additional 128,297 shares in the last quarter. California Public Employees Retirement System purchased a new stake in WeRide in the first quarter worth about $1,845,000. Finally, Renaissance Technologies LLC bought a new position in WeRide during the 1st quarter worth about $663,000.

WeRide Company Profile

WeRide is a technology company focused on autonomous driving. Founded in 2017 and headquartered in Guangzhou, China, it develops self-driving systems and vehicles for passenger transportation, public transit, logistics and street cleaning. Its offerings include robotaxis, robobuses, robovans and autonomous street-sweeping vehicles, as well as advanced driver-assistance systems for passenger cars. The company works with local and industry partners to deploy and test its technology, with activities in China and selected international markets, including the Middle East.

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