WeRide Inc. (NASDAQ:WRD - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 7,085,092 shares traded hands 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.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.
Check Out Our Latest Report on WRD
WeRide Stock Performance
The firm has a 50 day simple moving average of $9.28.
WeRide (NASDAQ:WRD - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $9.98 million for the quarter. As a group, research analysts expect that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.
WeRide declared that its board has approved a stock repurchase program on Wednesday, May 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Institutional Investors Weigh In On WeRide
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in WeRide in the 1st quarter valued at about $40,315,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of WeRide in the 1st quarter valued at approximately $12,178,000. Virtu Financial LLC purchased a new position in shares of WeRide in the 1st quarter valued at approximately $723,000. Concurrent Investment Advisors LLC purchased a new position in shares of WeRide in the 1st quarter valued at approximately $201,000. Finally, OLD Mission Capital LLC purchased a new position in shares of WeRide in the 1st quarter valued at approximately $182,000.
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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