WeRide (NASDAQ:WRD) Shares Down 4.5% - Time to Sell?

Key Points

• WeRide shares fell 4.5% to about $5.28 on unusually light trading volume, remaining below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Wall Street Zen downgraded the stock to “sell,” while Bank of America and Morgan Stanley maintained bullish ratings. The overall consensus remains “Moderate Buy,” with an average price target of $11.62.
• 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 $0.67 per share.

WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price traded down 4.5% on Tuesday. The company traded as low as $5.28 and last traded at $5.2810. Approximately 441,220 shares were traded during trading, a decline of 87% from the average session volume of 3,303,232 shares. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

Several research firms have weighed in on WRD. Wall Street Zen downgraded shares of WeRide from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Bank of America restated a "buy" rating and issued a $10.70 price target on shares of WeRide in a research note on Friday, August 14th. Weiss Ratings raised WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Seven investment 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.62.

WeRide Trading Down 5.0%

The company's 50 day simple moving average is $5.86 and its 200-day simple moving average is $6.56. The firm has a market cap of $1.63 billion, a P/E ratio of -6.99 and a beta of 1.89. 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 earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share 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, research analysts predict that WeRide Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WeRide

Several hedge funds have recently modified their holdings of WRD. Bank of America Corp DE raised its stake in 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 in the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of WeRide by 119.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company's stock valued at $25,856,000 after acquiring an additional 1,623,156 shares during the period. Amova Asset Management Americas Inc. increased 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 valued at $18,609,000 after acquiring an additional 1,605,657 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of WeRide by 229.3% in the 1st 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 in the last quarter. Finally, Styrax Capital LP bought a new position in shares of WeRide in the 4th quarter worth $11,795,000.

About WeRide

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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