WeRide (NASDAQ:WRD) Shares Gap Up - Should You 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 trading hands.

Analyst Ratings Changes

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

WeRide Stock Performance

The stock has a market cap of $3.18 billion and a P/E ratio of -3.94. The company has a quick ratio of 10.55, a current ratio of 11.03 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $9.42 and a two-hundred day moving average price of $10.07.

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

Hedge Funds Weigh In On WeRide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. Robert Bosch GmbH bought a new position in WeRide during the second quarter valued at approximately $32,424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in WeRide during the first quarter valued at approximately $40,315,000. FengHe Fund Management Pte. Ltd. purchased a new stake in WeRide during the second quarter valued at approximately $11,023,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in WeRide during the first quarter valued at approximately $12,178,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in WeRide during the second quarter valued at approximately $6,374,000.

WeRide Company Profile

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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