WeRide (NASDAQ:WRD) Stock Price Down 4% - What's Next?

Key Points

• WeRide Inc. (NASDAQ:WRD) experienced a 4% drop in stock price, trading as low as $11.84, with a significant decline in trading volume.
• Several analysts have provided mixed ratings on WeRide, with Citigroup issuing a "buy" rating and $15.50 target price, while Weiss Ratings maintained a "sell" rating.
• The company's most recent quarterly earnings reported a loss of ($0.18) earnings per share and revenue of $17.75 million, projecting a negative return on equity of 49.03%.

WeRide Inc. (NASDAQ:WRD - Get Free Report)'s stock price dropped 4% during trading on Thursday . The stock traded as low as $11.84 and last traded at $11.89. Approximately 1,148,376 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 7,565,216 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

WRD has been the subject of a number of recent research reports. Citigroup initiated coverage on WeRide in a research note on Monday, September 29th. They issued a "buy" rating and a $15.50 target price for the company. Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of WeRide in a research note on Wednesday. Finally, UBS Group began coverage on shares of WeRide in a research report on Monday, August 4th. They set a "buy" rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.75.

WeRide Stock Performance

The stock has a market capitalization of $3.46 billion and a PE ratio of -4.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03. The firm's 50 day moving average is $9.93 and its two-hundred day moving average is $9.49.

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

Institutional Investors Weigh In On WeRide

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