WeRide (NASDAQ:WRD) Sets New 52-Week Low - What's Next?

Key Points

• WeRide shares hit a new 52-week low of $5.17, below the previous close of $5.31, and remain below both their 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with an $11.62 price target; seven analysts rate the stock a Buy, while one rates it Hold and one Sell.
• WeRide continues to report significant losses, posting a quarterly EPS loss of $0.18, a negative net margin of 199.09%, and a projected full-year loss of $0.67 per share.

WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price hit a new 52-week low during trading on Thursday. The stock traded as low as $5.17 and last traded at $5.2050, with a volume of 534147 shares trading hands. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded WeRide from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Bank of America reaffirmed a "buy" rating and set a $10.70 price objective on shares of WeRide in a research report on Friday, August 14th. Morgan Stanley reiterated an "overweight" rating and issued a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.62.

WeRide Stock Performance

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 company has a 50 day moving average price of $5.84 and a 200 day moving average price of $6.54. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.97 and a beta of 1.89.

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

Hedge Funds Weigh In On WeRide

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in WeRide in the 2nd quarter valued at $517,000. Nykredit A S acquired a new position in WeRide during the second quarter worth $57,000. Concurrent Investment Advisors LLC lifted its stake in shares of 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 buying an additional 11,000 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of WeRide by 586.3% in the second quarter. Headlands Technologies LLC now owns 104,585 shares of the company's stock valued at $609,000 after buying an additional 89,347 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of WeRide by 4,926.0% during the first 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 during the last quarter.

WeRide Company Profile

WeRide Inc is a global autonomous driving technology company that develops hardware, software and operating services for vehicles capable of performing driving tasks with limited or no human intervention. The company focuses primarily on Level 2 through Level 4 autonomous driving technologies for passenger transportation, freight and urban services.

Its product portfolio includes robotaxis, robobuses, robovans and autonomous driving systems for logistics and other commercial vehicles. WeRide also develops autonomous sanitation vehicles, including street-sweeping and cleaning vehicles, as well as advanced driver-assistance and autonomous-driving solutions for vehicle manufacturers and mobility operators.

Founded in 2017 and headquartered in Guangzhou, China, WeRide has conducted testing and commercial or pilot operations in multiple markets, including China, Singapore and the United Arab Emirates.

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