WeRide Inc. (NASDAQ:WRD) Sees Large Decrease in Short Interest

Key Points

• WeRide Inc. saw a significant decrease in short interest of 32.1% in September, with total short interest dropping to 6,060,000 shares.
• The company's most recent earnings report indicated a loss of ($0.18) per share with a revenue of $17.75 million for the quarter.
• Analysts have mixed ratings for WeRide, with UBS Group and Citigroup giving it a "buy" rating, while Weiss Ratings maintains a "sell" rating.

WeRide Inc. (NASDAQ:WRD - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 6,060,000 shares, a drop of 32.1% from the September 15th total of 8,930,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 7,220,000 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 7,220,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.3% of the shares of the stock are sold short.

Institutional Trading of WeRide

Several hedge funds have recently modified their holdings of WRD. NewEdge Advisors LLC purchased a new position in shares of WeRide in the 1st quarter valued at approximately $27,000. SBI Securities Co. Ltd. raised its position in shares of WeRide by 1,263.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company's stock valued at $28,000 after purchasing an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of WeRide in the 2nd quarter valued at approximately $30,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of WeRide in the 1st quarter valued at approximately $56,000. Finally, Levin Capital Strategies L.P. purchased a new position in shares of WeRide in the 2nd quarter valued at approximately $79,000.

WeRide Price Performance

WeRide stock opened at $9.83 on Thursday. The company has a quick ratio of 10.55, a current ratio of 11.03 and a debt-to-equity ratio of 0.01. WeRide has a 52-week low of $6.03 and a 52-week high of $44.00. The company has a market cap of $2.90 billion and a price-to-earnings ratio of -3.52. The firm's fifty day moving average is $10.18 and its 200 day moving average is $9.26.

WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $17.75 million for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. Sell-side analysts forecast that WeRide will post -0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WRD shares. UBS Group started coverage on shares of WeRide in a research report on Monday, August 4th. They issued a "buy" rating and a $12.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of WeRide in a report on Wednesday, October 8th. Citigroup assumed coverage on shares of WeRide in a report on Monday, September 29th. They issued a "buy" rating and a $15.50 target price on the stock. Finally, Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, WeRide presently has a consensus rating of "Hold" and a consensus target price of $13.75.

WeRide Company Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.

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