WeRide (NASDAQ:WRD) Posts Quarterly Earnings Results

Key Points

• WeRide (NASDAQ:WRD) reported a quarterly earnings loss of ($0.18) per share, with revenues totaling $17.75 million and a severe negative net margin of 595.64%.
• Shares of WeRide decreased by $0.53, reaching $8.65 during trading, with a market capitalization of $2.30 billion.
• The company has initiated a stock buyback plan, indicating that management believes the stock may be undervalued despite its recent performance.

WeRide (NASDAQ:WRD - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share for the quarter, Zacks reports. 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%.

WeRide Stock Performance

Shares of NASDAQ WRD traded down $0.01 during mid-day trading on Wednesday, hitting $8.67. 4,715,528 shares of the stock traded hands, compared to its average volume of 7,875,872. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.10 and a current ratio of 11.03. WeRide has a 52 week low of $6.03 and a 52 week high of $44.00. The company has a market capitalization of $2.31 billion and a P/E ratio of -3.11. The stock has a fifty day moving average of $8.78.

Institutional Investors Weigh In On WeRide

An institutional investor recently bought a new position in WeRide stock. NewEdge Advisors LLC purchased a new position in WeRide Inc. (NASDAQ:WRD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,960 shares of the company's stock, valued at approximately $27,000.

WeRide announced that its board has authorized a stock buyback plan on Wednesday, May 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WRD shares. UBS Group started coverage on WeRide in a report on Monday. They set a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th.

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.