WeRide (NASDAQ:WRD) Shares Gap Up - Time to Buy?

Key Points

• WeRide Inc. (NASDAQ: WRD) saw its shares open at $10.84 after closing the previous day at $10.46, with a trading volume of nearly 5 million shares.
• Analysts have given WeRide a consensus rating of "Buy," with a target price set at $12.00, though the company reported negative earnings per share of ($0.18) for its last quarter.
• Institutional investors have been active in WeRide, with several hedge funds increasing their stakes, including Robert Bosch GmbH and MIRAE ASSET GLOBAL ETFS HOLDINGS, indicating growing interest in the company.

WeRide Inc. (NASDAQ:WRD - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $10.46, but opened at $10.84. WeRide shares last traded at $10.53, with a volume of 4,996,298 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. UBS Group assumed coverage on shares of WeRide in a report on Monday, August 4th. They issued a "buy" rating and a $12.00 target price on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, WeRide currently has a consensus rating of "Buy" and a consensus price target of $12.00.

WeRide Stock Performance

The firm's fifty day moving average price is $9.54 and its 200-day moving average price is $9.90. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.34 billion and a P/E ratio of -4.14.

WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The company had revenue of $17.75 million for the quarter. As a group, research analysts forecast that WeRide Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of WeRide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WRD. Mirae Asset Global Investments Co. Ltd. bought a new stake in WeRide in the first quarter valued at about $12,178,000. Concurrent Investment Advisors LLC bought a new stake in WeRide in the first quarter valued at about $201,000. Virtu Financial LLC bought a new stake in WeRide in the first quarter valued at about $723,000. Gordian Capital Singapore Pte Ltd bought a new stake in WeRide in the first quarter valued at about $56,000. Finally, OLD Mission Capital LLC bought a new stake in WeRide in the first quarter valued at about $182,000.

About WeRide

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.