WeRide Inc. (NASDAQ:WRD - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $9.90, but opened at $9.62. WeRide shares last traded at $9.47, with a volume of 3,342,461 shares.
Analysts Set New Price Targets
Separately, Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.
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WeRide Trading Up 0.8%
The company's fifty day moving average is $9.19.
WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.18) EPS for the quarter. The business had revenue of $9.98 million for the quarter. As a group, research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.
WeRide announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Hedge Funds Weigh In On WeRide
A number of institutional investors and hedge funds have recently modified their holdings of WRD. NewEdge Advisors LLC purchased a new stake in WeRide during the 1st quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in WeRide during the first quarter worth approximately $40,315,000. OLD Mission Capital LLC acquired a new position in WeRide in the first quarter valued at approximately $182,000. Gordian Capital Singapore Pte Ltd purchased a new position in WeRide in the first quarter valued at approximately $56,000. Finally, Virtu Financial LLC purchased a new position in WeRide in the first quarter valued at approximately $723,000.
WeRide Company Profile
(
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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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