Amova Asset Management Americas Inc. Grows Holdings in WeRide Inc. $WRD

Key Points

• Amova Asset Management Americas Inc. boosted its WeRide stake by 229.3% in Q1, buying 1,605,657 more shares and bringing its total to 2,305,997 shares worth about $18.6 million.
• Several other institutions also added small positions in WeRide recently, including NewEdge Advisors, JPMorgan Chase, Leonteq Securities, Blue Trust, and Daiwa Securities Group.
• Analyst sentiment is generally constructive: WeRide has a Moderate Buy consensus rating with an average price target of $12.48, though the stock recently traded at $5.95 and the company continues to post losses.

Amova Asset Management Americas Inc. lifted its position in WeRide Inc. (NASDAQ:WRD - Free Report) by 229.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,305,997 shares of the company's stock after purchasing an additional 1,605,657 shares during the period. Amova Asset Management Americas Inc. owned about 0.73% of WeRide worth $18,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the first quarter worth about $27,000. JPMorgan Chase & Co. purchased a new position in WeRide in the 2nd quarter worth approximately $30,000. Leonteq Securities AG bought a new position in WeRide in the 4th quarter worth approximately $36,000. Blue Trust Inc. bought a new position in WeRide in the 1st quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. purchased a new stake in WeRide during the 4th quarter valued at approximately $65,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WRD shares. Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. Zacks Research lowered shares of WeRide from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. BNP Paribas Exane assumed coverage on shares of WeRide in a research note on Thursday, March 26th. They set an "outperform" rating and a $11.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of WeRide in a research report on Thursday, April 16th. They set a "buy" rating for the company. Finally, HSBC initiated coverage on shares of WeRide in a report on Tuesday, March 31st. They issued a "buy" rating and a $11.40 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.48.

WeRide Price Performance

WeRide stock opened at $5.95 on Tuesday. The firm has a market capitalization of $1.85 billion, a P/E ratio of -7.93 and a beta of 1.92. WeRide Inc. has a 1-year low of $5.18 and a 1-year high of $12.55. The company's 50-day moving average is $6.47 and its 200 day moving average is $7.32.

WeRide (NASDAQ:WRD - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The business had revenue of $16.55 million for the quarter. Research analysts anticipate that WeRide Inc. will post -0.55 earnings per share for the current fiscal year.

About WeRide

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.

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