WeRide (NASDAQ:WRD) Stock Rating Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded WeRide from “sell” to “strong sell,” contrasting with MarketBeat’s overall “Moderate Buy” consensus and $10.35 average price target.
• WeRide shares opened at $4.17, near their 12-month low of $4.03 and well below the 12-month high of $12.13; the stock’s 50-day and 200-day moving averages were $5.39 and $6.24, respectively.
• The company reported a quarterly loss of $0.18 per share on $34.11 million in revenue, with a negative 199.09% net margin; analysts expect a full-year loss of $0.67 per share.

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

WRD has been the subject of a number of other reports. Barclays assumed coverage on WeRide in a research note on Thursday. They set an "equal weight" rating and a $4.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Bank of America reaffirmed a "buy" rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday, August 14th. Finally, Weiss Ratings cut WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, WeRide currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.35.

WeRide Stock Performance

Shares of WRD opened at $4.17 on Friday. The business's 50 day moving average is $5.39 and its 200 day moving average is $6.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00. WeRide has a 12-month low of $4.03 and a 12-month high of $12.13.

WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS 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%. Equities research analysts expect that WeRide will post -0.67 EPS for the current fiscal year.

Institutional Trading of WeRide

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake 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 worth $29,086,000 after acquiring an additional 3,523,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position 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 valued at $18,656,000 after purchasing an additional 1,605,657 shares during the last quarter. Amova Asset Management Americas Inc. raised its position 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 valued at $18,609,000 after purchasing an additional 1,605,657 shares during the last quarter. California Public Employees Retirement System purchased a new position in shares of WeRide in the 1st quarter valued at approximately $1,845,000. Finally, Empowered Funds LLC acquired a new stake in WeRide in the 1st quarter worth approximately $1,461,000.

WeRide Company Profile

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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