Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 7,085,092 shares were traded during trading, a decline of 5% from the previous session's volume of 7,470,802 shares.The stock last traded at $9.46 and had previously closed at $9.61.
Analyst Ratings Changes
Separately, Wall Street Zen lowered WeRide from a "hold" rating to a "sell" rating in a report on Saturday.
Check Out Our Latest Stock Analysis on WRD
WeRide Stock Performance
The company's 50 day simple 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 company had revenue of $9.98 million during the quarter. On average, equities research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current year.
WeRide declared that its board has initiated 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 repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On WeRide
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of WeRide during the first quarter worth $40,315,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of WeRide in the 1st quarter valued at about $12,178,000. Virtu Financial LLC bought a new stake in WeRide in the first quarter valued at approximately $723,000. Concurrent Investment Advisors LLC acquired a new stake in WeRide during the 1st quarter valued at $201,000. Finally, OLD Mission Capital LLC bought a new stake in shares of WeRide during the 1st quarter worth about $182,000.
WeRide Company Profile
(
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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