WeRide Inc. $WRD Shares Purchased by FengHe Fund Management Pte. Ltd.

Key Points

• FengHe Fund Management boosted its stake in WeRide by 198.5% in Q4, adding 2,776,381 shares to hold 4,175,181 shares (about 1.29% of the company) valued at $36.24 million, making WRD its 19th largest position.
• Analyst consensus is a "Moderate Buy" with a $12.48 average price target—seven Buys, one Hold and one Sell—while firms including CLSA, HSBC and Goldman Sachs have recently initiated positive coverage.
• WeRide reported quarterly EPS of ($0.24) on $44.88 million revenue with a deeply negative net margin, and its shares trade around $8.17 (market cap ~$2.59 billion) with a 52-week range of $6.01–$12.55.

FengHe Fund Management Pte. Ltd. increased its stake in shares of WeRide Inc. (NASDAQ:WRD - Free Report) by 198.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,175,181 shares of the company's stock after purchasing an additional 2,776,381 shares during the quarter. WeRide accounts for approximately 2.0% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 19th biggest position. FengHe Fund Management Pte. Ltd. owned approximately 1.29% of WeRide worth $36,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in WeRide in the first quarter valued at $27,000. JPMorgan Chase & Co. acquired a new stake in WeRide in the second quarter valued at $30,000. SBI Securities Co. Ltd. lifted its holdings in WeRide by 37.6% in the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company's stock valued at $48,000 after acquiring an additional 1,339 shares during the period. LMR Partners LLP acquired a new stake in WeRide in the second quarter valued at $85,000. Finally, First Trust Advisors LP acquired a new stake in WeRide in the second quarter valued at $98,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. CLSA assumed coverage on WeRide in a report on Monday, January 5th. They issued an "outperform" rating and a $13.00 target price for the company. HSBC assumed coverage on WeRide in a report on Tuesday, March 31st. They issued a "buy" rating and a $11.40 target price for the company. Zacks Research downgraded WeRide from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. The Goldman Sachs Group assumed coverage on WeRide in a report on Thursday, April 16th. They issued a "buy" rating for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of WeRide in a report on Friday, March 27th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.48.

WeRide Stock Up 2.6%

Shares of WRD stock opened at $8.17 on Tuesday. WeRide Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $12.55. The stock has a market cap of $2.59 billion, a P/E ratio of -10.89 and a beta of 2.95. The business has a fifty day simple moving average of $7.29 and a 200-day simple moving average of $8.31.

WeRide (NASDAQ:WRD - Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. The firm had revenue of $44.88 million during the quarter. On average, sell-side analysts anticipate that WeRide Inc. will post -1.29 earnings per share for the current year.

WeRide Company 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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