MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases Shares of 2,970,856 WeRide Inc. $WRD

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a significant stake in WeRide Inc., purchasing 2,970,856 shares valued at approximately $40.3 million, representing about 1.12% of the company's stock.
• WeRide Inc. reported a negative earnings per share of ($0.18) for the quarter, with revenues of $17.75 million, and analysts forecast a projected EPS of -0.68 for the current fiscal year.
• Analysts have upgraded WeRide's consensus rating to "Buy" with a price target of $12.00, indicating optimism about the company's future growth prospects.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in WeRide Inc. (NASDAQ:WRD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,970,856 shares of the company's stock, valued at approximately $40,315,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.12% of WeRide as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd acquired a new position in shares of WeRide in the first quarter worth about $56,000. OLD Mission Capital LLC acquired a new position in shares of WeRide in the first quarter worth about $182,000. Concurrent Investment Advisors LLC purchased a new position in WeRide during the first quarter worth approximately $201,000. Virtu Financial LLC purchased a new position in WeRide during the first quarter worth approximately $723,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in WeRide during the first quarter worth approximately $12,178,000.

WeRide Stock Performance

WRD opened at $9.07 on Friday. The company has a quick ratio of 10.55, a current ratio of 11.03 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.62 billion and a price-to-earnings ratio of -3.25. WeRide Inc. has a 52-week low of $6.03 and a 52-week high of $44.00. The firm's fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $10.76.

WeRide (NASDAQ:WRD - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The business had revenue of $17.75 million for the quarter. Equities analysts anticipate that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

WeRide announced that its board has initiated a share buyback program on Wednesday, May 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WRD shares. Wall Street Zen upgraded WeRide from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. UBS Group initiated coverage on shares of WeRide in a report on Monday, August 4th. They set a "buy" rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $12.00.

WeRide Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.

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