WeRide (NASDAQ:WRD) Rating Lowered to Sell at Wall Street Zen

WeRide (NASDAQ:WRD - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

WeRide Trading Up 0.8%

WRD opened at $8.82 on Friday. WeRide has a one year low of $6.03 and a one year high of $44.00. The firm's 50 day moving average is $9.09.

WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.18) EPS for the quarter. The firm had revenue of $9.98 million for the quarter. As a group, equities analysts anticipate that WeRide will post -0.68 EPS for the current fiscal year.

WeRide declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On WeRide

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in WeRide in the first quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in WeRide in the first quarter worth $56,000. OLD Mission Capital LLC acquired a new stake in WeRide in the first quarter worth $182,000. Concurrent Investment Advisors LLC acquired a new stake in WeRide in the first quarter worth $201,000. Finally, Virtu Financial LLC acquired a new stake in WeRide in the first quarter worth $723,000.

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.

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