WeRide (NASDAQ:WRD) Stock Rated Equal Weight in New Coverage at Barclays

Key Points

• Barclays initiated coverage of WeRide with an “equal weight” rating and a $4.00 price target, implying 6.32% downside from the prior close.
• Analyst sentiment remains mixed: WeRide has a consensus “Moderate Buy” rating and an average price target of $10.35, despite recent sell downgrades and Barclays’ cautious outlook.
• WeRide reported a quarterly loss of $0.18 per share on $34.11 million in revenue, with deeply negative profitability metrics; its shares opened at $4.27 and remain near their 12-month low.

Analysts at Barclays initiated coverage on shares of WeRide (NASDAQ:WRD - Get Free Report) in a research note issued on Thursday, Briefing.com reports. The brokerage set an "equal weight" rating and a $4.00 price target on the stock. Barclays' target price suggests a potential downside of 6.32% from the company's previous close.

A number of other analysts have also commented on WRD. Weiss Ratings lowered WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 9th. Morgan Stanley reiterated an "overweight" rating and issued a $12.00 price target on shares of WeRide in a report on Wednesday, August 19th. Bank of America reissued a "buy" rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded WeRide from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Seven 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.35.

WeRide Stock Performance

NASDAQ:WRD opened at $4.27 on Thursday. 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 twelve month low of $4.05 and a twelve month high of $12.13. The company has a fifty day moving average of $5.46 and a 200-day moving average of $6.28. The firm has a market capitalization of $1.33 billion, a P/E ratio of -5.69 and a beta of 1.90.

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

Institutional Trading of WeRide

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company's stock valued at $29,086,000 after buying an additional 3,523,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company's stock worth $18,656,000 after acquiring an additional 1,605,657 shares in the last quarter. Amova Asset Management Americas Inc. grew its stake in shares of WeRide by 229.3% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company's stock worth $18,609,000 after acquiring an additional 1,605,657 shares in the last quarter. California Public Employees Retirement System bought a new stake in shares of WeRide in the 1st quarter worth $1,845,000. Finally, Empowered Funds LLC purchased a new stake in shares of WeRide in the first quarter valued at about $1,461,000.

About WeRide

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company's product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.

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