WeRide Inc. (NASDAQ:WRD) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Seven of nine analysts rate WeRide a buy, while one rates it a hold and one a sell. The average 12-month price target is $11.62.
• WeRide shares opened at $5.12, well below the $11.62 consensus target, but the company remains unprofitable, reporting a quarterly loss of $0.18 per share, $34.11 million in revenue, and a negative net margin of 199.09%.
• Institutional investors have increased their positions, including Bank of America, Temasek Holdings, Amova Asset Management and Sumitomo Mitsui Trust Group, while WeRide continues developing autonomous-driving products such as robotaxis, robobuses, robovans and street sweepers.

WeRide Inc. (NASDAQ:WRD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $11.62.

A number of equities analysts have issued reports on WRD shares. Wall Street Zen cut shares of WeRide from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 25th. Bank of America reissued a "buy" rating and issued a $10.70 target price on shares of WeRide in a research note on Friday, August 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $12.00 price target on shares of WeRide in a research note on Wednesday, August 19th.

WeRide Stock Up 1.0%

Shares of NASDAQ:WRD opened at $5.12 on Wednesday. WeRide has a 12 month low of $4.96 and a 12 month high of $12.40. The company's 50-day moving average price is $5.80 and its two-hundred day moving average price is $6.50. The firm has a market cap of $1.59 billion, a P/E ratio of -6.83 and a beta of 1.90. 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 (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $34.11 million for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. As a group, research analysts forecast that WeRide will post -0.67 EPS for the current fiscal year.

Institutional Trading of WeRide

Large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in 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 acquiring an additional 3,523,785 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in shares of WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company's stock valued at $25,856,000 after purchasing an additional 1,623,156 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in WeRide by 229.3% during the first quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company's stock worth $18,609,000 after purchasing an additional 1,605,657 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in WeRide by 229.3% in the first 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 in the last quarter. Finally, Styrax Capital LP acquired a new position in shares of WeRide during the 4th quarter worth about $11,795,000.

About WeRide

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.

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