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) posted its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, Zacks reports. The business 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 62.57%.

WeRide Stock Performance

Shares of NASDAQ:WRD traded down $0.53 during midday trading on Friday, hitting $8.65. 7,961,733 shares of the company's stock traded hands, compared to its average volume of 8,435,184. The company has a current ratio of 13.60, a quick ratio of 13.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.30 billion and a P/E ratio of -3.10. The firm has a fifty day moving average price of $8.83. WeRide has a twelve month low of $6.03 and a twelve month high of $44.00.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On WeRide

A hedge fund recently bought a new stake in WeRide stock. NewEdge Advisors LLC acquired a new position in WeRide Inc. (NASDAQ:WRD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,960 shares of the company's stock, valued at approximately $27,000.

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

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.

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