WeRide (NASDAQ:WRD) Coverage Initiated by Analysts at UBS Group

Key Points

• Analysts at UBS Group have initiated coverage on WeRide (NASDAQ:WRD) with a "buy" rating and a price target of $12.00, indicating a potential upside of 38.73% from its previous close.
• WeRide's recent quarterly earnings report showed a negative EPS of ($0.18) and a negative net margin of 595.64%, raising concerns over its financial performance.
• The company has initiated a share repurchase program, suggesting management believes its shares are undervalued amidst fluctuating stock performance.

Stock analysts at UBS Group began coverage on shares of WeRide (NASDAQ:WRD - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. UBS Group's target price would suggest a potential upside of 30.58% from the company's previous close.

Separately, Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a report on Sunday, July 13th.

WeRide Stock Performance

NASDAQ:WRD traded up $0.01 during trading hours on Monday, reaching $9.19. The stock had a trading volume of 4,990,102 shares, compared to its average volume of 7,855,478. The firm has a market capitalization of $2.45 billion and a PE ratio of -3.29. The stock has a 50 day moving average of $8.73. The company has a current ratio of 11.03, a quick ratio of 13.10 and a debt-to-equity ratio of 0.01. WeRide has a 12-month low of $6.03 and a 12-month high of $44.00.

WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. The business had revenue of $17.75 million during the quarter. On average, equities analysts expect that WeRide will post -0.68 earnings per share for the current fiscal year.

WeRide declared that its board has approved a stock repurchase program on Wednesday, May 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On WeRide

A number of institutional investors have recently made changes to their positions in WRD. SBI Securities Co. Ltd. raised its position in WeRide by 1,263.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company's stock worth $28,000 after purchasing an additional 3,298 shares during the period. Levin Capital Strategies L.P. purchased a new stake in WeRide in the second quarter worth $79,000. Concurrent Investment Advisors LLC boosted its stake in shares of WeRide by 145.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 36,275 shares of the company's stock valued at $286,000 after purchasing an additional 21,499 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in shares of WeRide during the second quarter valued at about $11,023,000. Finally, NewEdge Advisors LLC bought a new position in WeRide in the first quarter worth about $27,000.

About WeRide

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.