WeRide (NASDAQ:WRD) Reaches New 1-Year Low - Should You Sell?

Key Points

• WeRide shares hit a new 52-week low, falling 8.5% to about $3.96, below their 50-day and 200-day moving averages.
• Analyst views are mixed: some firms cut ratings to sell or strong sell, while the overall consensus remains “Moderate Buy” with a $10.35 price target.
• The company reported quarterly revenue of $34.11 million and a loss of $0.18 per share; analysts expect a full-year loss of $0.67 per share.

Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $3.96 and last traded at $3.9650, with a volume of 840,419 shares traded. The stock had previously closed at $4.40.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings downgraded WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 9th. Wall Street Zen cut WeRide from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 24th. Bank of America restated a "buy" rating and set a $10.70 target price on shares of WeRide in a research report on Friday, August 14th. Barclays began coverage on WeRide in a research note on Thursday, October 22nd. They set an "equal weight" rating and a $4.00 price target on the stock. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $12.00 price target on shares of WeRide in a report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.35.

WeRide Trading Down 8.5%

The business has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $6.47. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.38 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00.

WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. The business had revenue of $34.11 million during the quarter. As a group, equities analysts expect that WeRide Inc. will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company's stock worth $29,086,000 after buying an additional 3,523,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in WeRide by 229.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company's stock worth $18,656,000 after acquiring an additional 1,605,657 shares during the last quarter. Amova Asset Management Americas Inc. lifted its holdings in shares of WeRide by 229.3% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company's stock worth $18,609,000 after purchasing an additional 1,605,657 shares during the last quarter. California Public Employees Retirement System acquired a new position in shares of WeRide during the first quarter valued at $1,845,000. Finally, Empowered Funds LLC acquired a new position in shares of WeRide during the first quarter worth approximately $1,461,000.

About WeRide

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company's product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.

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