Empowered Funds LLC Takes $1.46 Million Position in WeRide Inc. $WRD

Key Points

• Empowered Funds LLC acquired 180,648 WeRide shares worth approximately $1.46 million, representing about 0.06% of the autonomous-driving company. Several other institutional investors also increased or initiated positions during the first quarter.
• WeRide shares opened at $6.30 after rising 6.8%; the stock remains well below its 12-month high of $12.55. The company reported $16.55 million in quarterly revenue and a loss of $0.17 per share, with analysts expecting a full-year loss of $0.55 per share.
• Analyst sentiment is generally positive, with six Buy ratings, one Hold and one Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $12.58.

Empowered Funds LLC acquired a new position in shares of WeRide Inc. (NASDAQ:WRD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,648 shares of the company's stock, valued at approximately $1,461,000. Empowered Funds LLC owned approximately 0.06% of WeRide at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WRD. Renaissance Technologies LLC bought a new position in shares of WeRide in the first quarter valued at approximately $663,000. First Trust Advisors LP grew its position in WeRide by 24.9% during the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company's stock worth $188,000 after acquiring an additional 4,646 shares during the last quarter. Amova Asset Management Americas Inc. grew its position in WeRide by 229.3% during 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 during the last quarter. Hollencrest Capital Management acquired a new stake in WeRide during the 1st quarter valued at $152,000. Finally, California Public Employees Retirement System acquired a new stake in WeRide during the 1st quarter valued at $1,845,000.

WeRide Stock Up 6.8%

Shares of WeRide stock opened at $6.30 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of -8.40 and a beta of 1.89. WeRide Inc. has a 12 month low of $5.18 and a 12 month high of $12.55. The business has a fifty day simple moving average of $6.05 and a 200 day simple moving average of $7.00.

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

Wall Street Analyst Weigh In

WRD has been the topic of a number of recent analyst reports. Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. Weiss Ratings raised WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. The Goldman Sachs Group started coverage on shares of WeRide in a research report on Thursday, April 16th. They set a "buy" rating on the stock. Finally, Zacks Research lowered shares of WeRide from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. Six 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.58.

WeRide Profile

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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