WeRide (NASDAQ:WRD) Stock Price Down 6% - Here's Why

Key Points

• WeRide Inc. (NASDAQ: WRD) shares fell by 6%, trading at $10.26, with a notable decline in trading volume of 64% compared to the average.
• Analysts have mixed views on WeRide, with Wall Street Zen upgrading the stock from "sell" to "hold," while UBS Group initiated coverage with a "buy" rating and a price target of $12.00.
• The company reported a negative earnings per share of ($0.18) for the last quarter, highlighting significant challenges with a net margin of -595.64%.

Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) dropped 6% on Friday . The company traded as low as $10.26 and last traded at $10.26. Approximately 2,727,796 shares changed hands during trading, a decline of 64% from the average daily volume of 7,522,029 shares. The stock had previously closed at $10.91.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WRD. Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. UBS Group assumed coverage on WeRide in a research report on Monday, August 4th. They issued a "buy" rating and a $12.00 price objective for the company. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $12.00.

WeRide Trading Down 6.0%

The firm has a market cap of $2.97 billion and a PE ratio of -3.68. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $9.68 and a 200 day moving average price of $9.89.

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

Institutional Investors Weigh In On WeRide

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its holdings in WeRide by 1,211.8% in the second quarter. Osaic Holdings Inc. now owns 25,580 shares of the company's stock valued at $202,000 after acquiring an additional 23,630 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of WeRide during the second quarter worth about $394,000. Rafferty Asset Management LLC purchased a new stake in shares of WeRide during the second quarter worth about $120,000. LMR Partners LLP purchased a new stake in shares of WeRide during the second quarter worth about $85,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of WeRide during the second quarter worth about $122,000.

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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