WeRide (NASDAQ:WRD) Shares Gap Up - Still a Buy?

Key Points

• WeRide Inc. (NASDAQ:WRD) shares experienced a gap up in trading, opening at $11.00 after closing at $10.34, with a trading volume of over 10 million shares.
• Wall Street Zen upgraded WeRide's rating from "sell" to "hold," indicating a potentially more favorable outlook for investors.
• The company announced a share repurchase plan, signifying that its Board of Directors believes the shares are currently undervalued.

WeRide Inc. (NASDAQ:WRD - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $10.34, but opened at $11.00. WeRide shares last traded at $10.32, with a volume of 10,364,516 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th.

WeRide Trading Down 0.7%

The business has a 50-day moving average of $8.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.10 and a current ratio of 13.60.

WeRide (NASDAQ:WRD - Get Free Report) last announced its 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. Analysts predict that WeRide Inc. will post -0.68 earnings per share for the current year.

WeRide declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in WeRide in the 1st quarter valued at about $27,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of WeRide in the first quarter worth about $56,000. OLD Mission Capital LLC purchased a new position in shares of WeRide in the first quarter valued at $182,000. Concurrent Investment Advisors LLC purchased a new position in WeRide during the first quarter valued at approximately $201,000. Finally, Virtu Financial LLC bought a new position in WeRide in the 1st quarter worth about $723,000.

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.

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