WeRide (NASDAQ:WRD) Sees Strong Trading Volume - Time to Buy?

Key Points

• WeRide shares rose 4.1% to $4.725 as trading volume increased 18% to approximately 3.92 million shares.
• Analyst sentiment is broadly positive, with seven Buy ratings, one Hold and one Sell; the average price target is $11.62, including targets of $12.00 from Morgan Stanley and $10.70 from Bank of America.
• Despite strong liquidity and increased institutional ownership, WeRide remains unprofitable, reporting a quarterly loss of $0.18 per share, a negative net margin of 199.09% and projected full-year EPS of -$0.67.

WeRide Inc. (NASDAQ:WRD - Get Free Report) saw strong trading volume on Friday. Approximately 3,917,981 shares were traded during trading, an increase of 18% from the previous session's volume of 3,328,677 shares. The stock last traded at $4.7250 and had previously closed at $4.51.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings raised WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, September 25th. Morgan Stanley restated an "overweight" rating and set a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Bank of America reissued a "buy" rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of WeRide from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, WeRide presently has an average rating of "Moderate Buy" and an average price target of $11.62.

WeRide Stock Up 4.1%

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -6.26 and a beta of 1.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36. The business's 50 day moving average is $5.75 and its 200-day moving average is $6.48.

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

Institutional Trading of WeRide

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

About WeRide

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.

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