Wall Street Zen Downgrades WeRide (NASDAQ:WRD) to Sell

Key Points

• Wall Street Zen downgraded WeRide from “hold” to “sell,” despite the stock retaining a consensus “Moderate Buy” rating and an average analyst price target of $12.32.
• WeRide shares opened at $5.85, near their 52-week low of $5.18 and well below the 52-week high of $12.55; the stock has a market capitalization of approximately $1.82 billion.
• The company 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 $0.53 per share.

WeRide (NASDAQ:WRD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other research firms have also recently commented on WRD. Bank of America reissued a "buy" rating and issued a $10.70 target price on shares of WeRide in a report on Friday. Weiss Ratings lowered shares of WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday. Finally, Zacks Research cut shares of WeRide from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.32.

WeRide Price Performance

WeRide stock opened at $5.85 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.27 and a current ratio of 5.36. WeRide has a 52 week low of $5.18 and a 52 week high of $12.55. The stock has a market capitalization of $1.82 billion, a P/E ratio of -7.80 and a beta of 1.89. The stock has a fifty day moving average of $5.91 and a 200-day moving average of $6.90.

WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share 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. On average, sell-side analysts expect that WeRide will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WeRide

Institutional investors and hedge funds have recently bought and sold shares of the company. China UAE Investment Cooperation Fund L.P. acquired a new position in shares of WeRide in the fourth quarter valued at approximately $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in WeRide by 55.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company's stock worth $45,770,000 after buying an additional 1,645,769 shares during the period. FengHe Fund Management Pte. Ltd. grew its holdings in WeRide by 198.5% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company's stock worth $36,241,000 after acquiring an additional 2,776,381 shares during the last quarter. Bank of America Corp DE increased its position 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 acquiring an additional 3,523,785 shares during the period. Finally, Temasek Holdings Private Ltd increased its position in 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.

WeRide Company Profile

WeRide Inc NASDAQ: WRD is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company's full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source