WeRide Inc. (NASDAQ:WRD - Get Free Report)'s stock price dropped 3.9% during trading on Tuesday . The company traded as low as $9.37 and last traded at $9.42. Approximately 5,408,350 shares were traded during trading, a decline of 27% from the average daily volume of 7,397,969 shares. The stock had previously closed at $9.80.
Analyst Ratings Changes
Separately, Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.
Get Our Latest Stock Analysis on WeRide
WeRide Stock Performance
The stock's 50 day moving average is $9.19.
WeRide (NASDAQ:WRD - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $9.98 million during the quarter. Research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current year.
WeRide announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.
Hedge Funds Weigh In On WeRide
Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in WeRide during the first quarter valued at approximately $40,315,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of WeRide during the 1st quarter worth approximately $12,178,000. Virtu Financial LLC purchased a new position in shares of WeRide during the 1st quarter valued at approximately $723,000. Concurrent Investment Advisors LLC acquired a new position in shares of WeRide in the 1st quarter valued at $201,000. Finally, OLD Mission Capital LLC acquired a new position in shares of WeRide in the 1st quarter valued at $182,000.
WeRide Company Profile
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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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