WeRide (NASDAQ:WRD - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.
WeRide Stock Performance
WeRide stock traded down $0.23 during trading on Friday, reaching $8.92. The company had a trading volume of 7,556,068 shares, compared to its average volume of 7,752,277. WeRide has a 12-month low of $6.03 and a 12-month high of $44.00. The business's 50 day moving average price is $8.99.
WeRide (NASDAQ:WRD - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $9.98 million for the quarter. Sell-side analysts predict that WeRide will post -0.68 EPS for the current year.
WeRide declared that its Board of Directors has authorized a share repurchase plan 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 plans are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of WRD. Mirae Asset Global Investments Co. Ltd. acquired a new position in WeRide during the first quarter valued at approximately $12,178,000. Concurrent Investment Advisors LLC acquired a new position in WeRide during the first quarter valued at approximately $201,000. Virtu Financial LLC acquired a new position in WeRide during the first quarter valued at approximately $723,000. Gordian Capital Singapore Pte Ltd acquired a new position in WeRide during the first quarter valued at approximately $56,000. Finally, OLD Mission Capital LLC acquired a new position in WeRide during the first quarter valued at approximately $182,000.
WeRide Company Profile
(
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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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