Virtu Financial LLC Makes New $723,000 Investment in WeRide Inc. (NASDAQ:WRD)

Key Points

• Virtu Financial LLC has acquired 53,290 shares of WeRide Inc. (NASDAQ:WRD) worth approximately $723,000, reflecting investor confidence in the company's potential.
• WeRide's stock has seen a 5.8% increase recently, with its current share price at $9.31, while it has experienced a 12-month low of $6.03 and a high of $44.00.
• Analysts predict a forward-looking **EPS** of -0.68 for WeRide, with a recent upgrade from Wall Street Zen recommending a shift from "sell" to "hold" on the stock.

Virtu Financial LLC purchased a new position in WeRide Inc. (NASDAQ:WRD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,290 shares of the company's stock, valued at approximately $723,000.

Separately, Concurrent Investment Advisors LLC purchased a new position in shares of WeRide in the first quarter valued at about $201,000.

WeRide Stock Performance

Shares of NASDAQ WRD traded up $0.27 during midday trading on Friday, hitting $9.92. 8,409,516 shares of the company traded hands, compared to its average volume of 8,523,970. WeRide Inc. has a 12-month low of $6.03 and a 12-month high of $44.00. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $8.74. The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of -3.56.

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

WeRide declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. UBS Group assumed coverage on shares of WeRide in a research report on Monday, August 4th. They issued a "buy" rating and a $12.00 price objective on the stock.

About WeRide

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.