WeRide (NASDAQ:WRD) Reaches New 12-Month Low - Here's What Happened

Key Points

• WeRide shares fell to a new 52-week low of $4.03, closing near $4.19 versus the previous close of $4.27. The stock remains below its 50-day and 200-day moving averages.
• Analyst views are mixed: Barclays initiated coverage with an “equal weight” rating and a $4 target, while Morgan Stanley and Bank of America maintained bullish ratings with targets of $12 and $10.70. Despite some downgrades, the consensus rating remains “Moderate Buy” with an average target of $10.35.
• WeRide reported a quarterly loss of $0.18 per share on $34.11 million in revenue, alongside a negative net margin of 199.09%. Analysts expect a full-year loss of approximately $0.67 per share.

Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) reached a new 52-week low on Thursday. The company traded as low as $4.03 and last traded at $4.1850, with a volume of 400,323 shares trading hands. The stock had previously closed at $4.27.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen downgraded WeRide from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Barclays assumed coverage on WeRide in a report on Thursday. They set an "equal weight" rating and a $4.00 target price on the stock. Morgan Stanley restated an "overweight" rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Bank of America restated a "buy" rating and issued a $10.70 target price on shares of WeRide in a research note on Friday, August 14th. Finally, Weiss Ratings cut WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.35.

WeRide Price Performance

The stock's 50-day moving average price is $5.46 and its 200-day moving average price is $6.28. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.58 and a beta of 1.90. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of WeRide by 11.4% during the first quarter. Royal Bank of Canada now owns 17,288 shares of the company's stock worth $140,000 after acquiring an additional 1,768 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of WeRide during the first quarter valued at $34,000. First Trust Advisors LP boosted its holdings in WeRide by 24.9% in the first quarter. First Trust Advisors LP now owns 23,278 shares of the company's stock valued at $188,000 after acquiring an additional 4,646 shares during the last quarter. Nykredit A S bought a new position in WeRide in the second quarter valued at about $57,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in WeRide by 31.2% in the second quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company's stock valued at $269,000 after acquiring an additional 11,000 shares during the last quarter.

WeRide Company Profile

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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