WeRide (NASDAQ:WRD) Stock Price Up 8.6% - Should You Buy?

Key Points

• Shares of WeRide Inc. (NASDAQ: WRD) increased by 8.6% to $11.54 amid mid-day trading, despite a significant drop in trading volume.
• Analysts have mixed opinions on WeRide, with UBS Group issuing a "buy" rating and a target price of $12.00, while Weiss Ratings maintained a "sell" rating.
• The company reported a negative net margin of 595.64% and is projected to post an EPS of -0.68 for the current fiscal year, indicating financial challenges.

Shares of WeRide Inc. (NASDAQ:WRD - Get Free Report) were up 8.6% during mid-day trading on Wednesday . The company traded as high as $11.55 and last traded at $11.54. Approximately 1,590,049 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 7,595,363 shares. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

WRD has been the topic of a number of recent research reports. UBS Group started coverage on shares of WeRide in a report on Monday, August 4th. They issued a "buy" rating and a $12.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of WeRide in a report on Wednesday, October 8th. Wall Street Zen raised shares of WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Citigroup started coverage on shares of WeRide in a research report on Monday, September 29th. They set a "buy" rating and a $15.50 target price for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $13.75.

WeRide Stock Up 6.6%

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 firm's 50 day simple moving average is $10.04 and its 200-day simple moving average is $9.35. The stock has a market capitalization of $3.28 billion and a price-to-earnings ratio of -4.06.

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

Institutional Investors Weigh In On WeRide

A number of institutional investors have recently modified their holdings of WRD. NewEdge Advisors LLC bought a new position in WeRide during the first quarter worth $27,000. SBI Securities Co. Ltd. raised its holdings in shares of WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company's stock valued at $28,000 after purchasing an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in WeRide during the second quarter worth about $30,000. Gordian Capital Singapore Pte Ltd purchased a new stake in WeRide during the first quarter worth about $56,000. Finally, Levin Capital Strategies L.P. bought a new position in WeRide during the second quarter worth about $79,000.

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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