WeRide (NASDAQ:WRD) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded WeRide (NASDAQ:WRD) from a "strong-buy" to a "hold" rating in a report issued Tuesday.
• Analyst coverage remains mixed but tilted positive: seven analysts rate the stock a Buy (consensus "Moderate Buy") with a consensus price target of $12.48, alongside one Hold and one Sell.
• WeRide reported quarterly EPS of ($0.24) on $44.88 million revenue, has a negative net margin of 240.54%, and the stock opened Tuesday at $8.04 with a 52-week range of $6.01–$12.55 and a $2.55 billion market cap.

WeRide (NASDAQ:WRD - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

WRD has been the topic of several other research reports. The Goldman Sachs Group began coverage on shares of WeRide in a research note on Thursday, April 16th. They set a "buy" rating on the stock. BNP Paribas Exane began coverage on shares of WeRide in a research note on Thursday, March 26th. They set an "outperform" rating and a $11.00 price objective on the stock. CLSA began coverage on shares of WeRide in a research note on Monday, January 5th. They set an "outperform" rating and a $13.00 price objective on the stock. Citigroup reaffirmed a "buy" rating on shares of WeRide in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WeRide in a report on Friday, March 27th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.48.

WeRide Price Performance

NASDAQ:WRD opened at $8.04 on Tuesday. WeRide has a one year low of $6.01 and a one year high of $12.55. The company's 50-day simple moving average is $7.27 and its 200 day simple moving average is $8.41. The firm has a market capitalization of $2.55 billion, a P/E ratio of -10.72 and a beta of 2.95.

WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The business had revenue of $44.88 million for the quarter. On average, equities research analysts expect that WeRide will post -1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRD. China UAE Investment Cooperation Fund L.P. purchased a new position in WeRide in the fourth quarter worth about $67,443,000. FengHe Fund Management Pte. Ltd. raised its holdings in WeRide by 198.5% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company's stock worth $36,241,000 after buying an additional 2,776,381 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. purchased a new position in WeRide in the third quarter worth about $26,574,000. Mercer Global Advisors Inc. ADV purchased a new position in WeRide in the third quarter worth about $25,931,000. Finally, Marshall Wace LLP raised its holdings in WeRide by 4,869.5% in the third quarter. Marshall Wace LLP now owns 2,055,370 shares of the company's stock worth $20,348,000 after buying an additional 2,014,010 shares during the last quarter.

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.

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