WeRide (NASDAQ:WRD) Now Covered 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.

Investment analysts at UBS Group assumed coverage on shares of WeRide (NASDAQ:WRD - Get Free Report) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $12.00 price target on the stock. UBS Group's price objective suggests a potential upside of 38.73% from the company's previous close.

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

WeRide Stock Performance

NASDAQ:WRD opened at $8.65 on Monday. WeRide has a one year low of $6.03 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.10 and a current ratio of 13.60. The company has a market cap of $2.30 billion and a price-to-earnings ratio of -3.10. The firm has a 50-day simple moving average of $8.83.

WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) EPS for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 62.57%. The business had revenue of $17.75 million during the quarter. On average, research analysts predict that WeRide will post -0.68 EPS for the current fiscal year.

WeRide declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of WeRide

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in WeRide during the 1st quarter worth approximately $40,315,000. FengHe Fund Management Pte. Ltd. purchased a new stake in WeRide during the 2nd quarter worth approximately $11,023,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in WeRide during the 1st quarter worth approximately $12,178,000. Virtu Financial LLC purchased a new stake in WeRide during the 1st quarter worth approximately $723,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of WeRide by 145.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 36,275 shares of the company's stock valued at $286,000 after acquiring an additional 21,499 shares during the last quarter.

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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