WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $7.85, but opened at $8.23. WeRide shares last traded at $8.04, with a volume of 2,552,315 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded WeRide from a "sell" rating to a "hold" rating in a research report on Sunday.
Get Our Latest Research Report on WeRide
WeRide Trading Up 3.6%
The business's 50-day moving average is $8.81.
WeRide (NASDAQ:WRD - Get Free Report) last issued 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 during the quarter. On average, equities analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.
WeRide declared that its board has authorized a stock buyback program on Wednesday, May 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Institutional Investors Weigh In On WeRide
Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in WeRide during the first quarter valued at $27,000. Gordian Capital Singapore Pte Ltd purchased a new stake in WeRide in the 1st quarter valued at about $56,000. OLD Mission Capital LLC bought a new position in WeRide in the 1st quarter worth about $182,000. Concurrent Investment Advisors LLC purchased a new position in shares of WeRide during the first quarter worth approximately $201,000. Finally, Virtu Financial LLC bought a new position in WeRide in the first quarter worth approximately $723,000.
WeRide Company Profile
(
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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