WeRide (NASDAQ:WRD) Shares Down 5.9% - Here's Why

Key Points

• WeRide shares fell 5.9% to about $5.96, with trading volume roughly 48% below the average daily level.
• The company reported a quarterly loss of $0.18 per share on $34.11 million in revenue, alongside a negative net margin of 228.47% and negative return on equity of 24.18%.
• Analyst sentiment remains generally positive, with six Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $12.58.

WeRide Inc. (NASDAQ:WRD - Get Free Report) dropped 5.9% during trading on Wednesday . The company traded as low as $5.97 and last traded at $5.9580. Approximately 1,805,566 shares were traded during trading, a decline of 48% from the average daily volume of 3,450,463 shares. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WRD. The Goldman Sachs Group initiated coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a "buy" rating for the company. Zacks Research lowered shares of WeRide from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of WeRide from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, WeRide has a consensus rating of "Moderate Buy" and an average target price of $12.58.

WeRide Stock Down 9.5%

The firm has a market capitalization of $1.78 billion, a PE ratio of -7.64 and a beta of 1.89. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $6.96.

WeRide (NASDAQ:WRD - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The business had revenue of $34.11 million for the quarter. As a group, equities analysts predict that WeRide Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of WeRide

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company's stock worth $29,086,000 after purchasing an additional 3,523,785 shares in the last quarter. Royal Bank of Canada lifted its stake in WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company's stock valued at $140,000 after buying an additional 1,768 shares in the last quarter. Empowered Funds LLC purchased a new position in WeRide in the 1st quarter valued at about $1,461,000. Renaissance Technologies LLC purchased a new position in WeRide in the 1st quarter valued at about $663,000. Finally, First Trust Advisors LP boosted its holdings in WeRide by 24.9% in the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company's stock worth $188,000 after buying an additional 4,646 shares during the last quarter.

WeRide Company Profile

WeRide Inc NASDAQ: WRD is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company's full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.

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