Mirae Asset Global Investments Co. Ltd. Lowers Holdings in WeRide Inc. $WRD

Key Points

• Mirae Asset Global Investments significantly reduced its stake in WeRide Inc. by 87.2% during the second quarter, leaving it with only 114,615 shares valued at $903,000.
• Several institutional investors, including Gordian Capital and Virtu Financial, have recently acquired new positions in WeRide, indicating continued interest in the company despite recent sell-offs.
• Equities analysts have mixed opinions on WeRide's stock, with two analysts rating it a Buy, while others maintain a Hold or Sell rating, resulting in a consensus target price of $13.75.

Mirae Asset Global Investments Co. Ltd. reduced its position in WeRide Inc. (NASDAQ:WRD - Free Report) by 87.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 114,615 shares of the company's stock after selling 782,779 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in WeRide were worth $903,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new position in WeRide in the 1st quarter valued at $27,000. Gordian Capital Singapore Pte Ltd acquired a new position in WeRide in the 1st quarter valued at $56,000. OLD Mission Capital LLC acquired a new position in WeRide in the 1st quarter valued at $182,000. Concurrent Investment Advisors LLC acquired a new position in WeRide in the 1st quarter valued at $201,000. Finally, Virtu Financial LLC acquired a new position in WeRide in the 1st quarter valued at $723,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of WeRide in a research note on Monday, August 4th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Weiss Ratings restated a "sell (d-)" rating on shares of WeRide in a research report on Wednesday. Finally, Citigroup assumed coverage on shares of WeRide in a research report on Monday, September 29th. They set a "buy" rating and a $15.50 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.75.

WeRide Stock Down 3.3%

Shares of NASDAQ:WRD opened at $11.97 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03. WeRide Inc. has a 1 year low of $6.03 and a 1 year high of $44.00. The stock has a market capitalization of $3.46 billion and a P/E ratio of -4.29. The stock has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $9.49.

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

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.

Want to see what other hedge funds are holding WRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WeRide Inc. (NASDAQ:WRD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.