WeRide (NASDAQ:WRD) Shares Up 7% - What's Next?

Key Points

• WeRide Inc. shares rose by 7% during trading on Thursday, with a last traded price of $11.04, despite experiencing a 66% decline in trading volume compared to its average daily volume.
• Equities research analysts have generally rated WeRide with a "Buy" recommendation, with target prices ranging from $12.00 to $15.50, leading to an average target price of $13.75.
• In its latest earnings report, WeRide reported a net loss of ($0.18) per share with revenue of $17.75 million, reflecting a challenging financial performance characterized by a negative net margin and return on equity.

WeRide Inc. (NASDAQ:WRD - Get Free Report) shares were up 7% during trading on Thursday . The stock traded as high as $11.06 and last traded at $11.04. Approximately 2,575,910 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 7,542,928 shares. The stock had previously closed at $10.32.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WRD shares. UBS Group began coverage on shares of WeRide in a research report on Monday, August 4th. They issued a "buy" rating and a $12.00 target price 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. Finally, Citigroup began coverage on shares of WeRide in a research note on Monday. They set a "buy" rating and a $15.50 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $13.75.

WeRide Stock Performance

The stock's 50-day moving average is $9.74 and its 200-day moving average is $9.70. The stock has a market cap of $3.19 billion and a price-to-earnings ratio of -3.96. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of WeRide

Several large investors have recently added to or reduced their stakes in WRD. Robert Bosch GmbH acquired a new position in shares of WeRide during the second quarter worth about $32,424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of WeRide in the first quarter valued at about $40,315,000. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of WeRide during the 2nd quarter valued at about $11,023,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in WeRide during the 1st quarter worth approximately $12,178,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new position in WeRide in the 2nd quarter worth 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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