WeRide Inc. (NASDAQ:WRD) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• WeRide has an average analyst rating of “Moderate Buy” from nine research firms, with seven buy ratings, one hold, and one sell. The average 12-month price target is about $12.48.
• The stock was trading down around 1.4% at $5.71, well below its 52-week high of $12.55 and near its 52-week low of $5.18. It also sits below both its 50-day and 200-day moving averages.
• WeRide’s latest reported quarter showed a loss of $0.17 per share on revenue of $16.55 million, and analysts expect the company to post a full-year loss. Despite the weak profitability, institutional investors have been adding to or adjusting positions in the stock.

Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $12.4833.

Several equities analysts have issued reports on WRD shares. Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. Zacks Research cut WeRide from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. The Goldman Sachs Group started coverage on WeRide in a report on Thursday, April 16th. They issued a "buy" rating for the company. BNP Paribas Exane started coverage on WeRide in a research report on Thursday, March 26th. They issued an "outperform" rating and a $11.00 target price for the company. Finally, Weiss Ratings downgraded WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, July 13th.

WeRide Trading Down 1.4%

Shares of NASDAQ:WRD opened at $5.71 on Friday. The firm has a 50 day simple moving average of $6.36 and a 200-day simple moving average of $7.26. WeRide has a twelve month low of $5.18 and a twelve month high of $12.55. The company has a market capitalization of $1.77 billion, a PE ratio of -7.61 and a beta of 1.92.

WeRide (NASDAQ:WRD - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The company had revenue of $16.55 million during the quarter. As a group, equities research analysts predict that WeRide will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On WeRide

Several large investors have recently modified their holdings of WRD. Bank of America Corp DE increased its holdings in shares of 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. Royal Bank of Canada raised its position in WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company's stock valued at $140,000 after purchasing an additional 1,768 shares during the last quarter. Empowered Funds LLC acquired a new stake in WeRide during the 1st quarter worth $1,461,000. Renaissance Technologies LLC acquired a new stake in WeRide during the 1st quarter worth $663,000. Finally, First Trust Advisors LP grew its position in WeRide by 24.9% during the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company's stock worth $188,000 after purchasing an additional 4,646 shares during the last quarter.

About WeRide

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.

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