WeRide (NASDAQ:WRD) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded WeRide (NASDAQ:WRD) from a "hold" to a sell rating in a note to investors on Saturday.
• Despite that downgrade, seven analysts currently rate the stock a Buy (one Hold, one Sell), leaving an average rating of Moderate Buy and an average price target of $12.48.
• WeRide posted Q results of ($0.24) EPS on $44.88M revenue with a negative net margin and ROE, analysts expect -1.29 EPS for the year, and the shares trade around $7.64 with a market cap of $2.42 billion.

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 research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of WeRide from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. The Goldman Sachs Group began coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a "buy" rating on the stock. BNP Paribas Exane began coverage on shares of WeRide in a research report on Thursday, March 26th. They set an "outperform" rating and a $11.00 target price on the stock. Citigroup reaffirmed a "buy" rating on shares of WeRide in a research report on Monday, January 19th. Finally, CLSA began coverage on shares of WeRide in a research report on Monday, January 5th. They set an "outperform" rating and a $13.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.48.

WeRide Price Performance

Shares of NASDAQ:WRD opened at $7.64 on Friday. WeRide has a 1 year low of $6.01 and a 1 year high of $12.55. The business has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $8.28. The firm has a market capitalization of $2.42 billion, a PE ratio of -10.19 and a beta of 1.89.

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

Hedge Funds Weigh In On WeRide

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in shares of WeRide during the first quarter worth approximately $27,000. JPMorgan Chase & Co. bought a new stake in shares of WeRide in the 2nd quarter valued at about $30,000. Blue Trust Inc. bought a new stake in shares of WeRide in the 1st quarter valued at about $34,000. Leonteq Securities AG bought a new stake in shares of WeRide in the 4th quarter valued at about $36,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of WeRide by 37.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company's stock valued at $48,000 after purchasing an additional 1,339 shares in 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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