Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) saw strong trading volume on Wednesday . 14,496,944 shares traded hands during mid-day trading, an increase of 164% from the previous session's volume of 5,495,500 shares.The stock last traded at $9.57 and had previously closed at $8.45.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a report on Thursday.
Read Our Latest Analysis on WRD
WeRide Price Performance
The firm has a fifty day simple moving average of $10.22.
WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $9.98 million during the quarter. On average, equities analysts predict that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.
WeRide announced that its board has initiated a stock buyback plan on Wednesday, May 21st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Institutional Trading of WeRide
Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new stake in WeRide during the first quarter valued at about $27,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of WeRide in the first quarter valued at about $56,000. OLD Mission Capital LLC purchased a new position in shares of WeRide in the first quarter valued at about $182,000. Concurrent Investment Advisors LLC purchased a new position in shares of WeRide in the first quarter valued at about $201,000. Finally, Virtu Financial LLC purchased a new position in shares of WeRide in the first quarter valued at about $723,000.
About WeRide
(
Get Free Report)
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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