WeRide (NASDAQ:WRD) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of WeRide (NASDAQ:WRD - Free Report) from a sell rating to a hold rating in a research note published on Thursday morning.

WeRide Stock Up 16.5%

WRD stock traded up $1.50 during mid-day trading on Thursday, hitting $10.61. 33,889,632 shares of the company were exchanged, compared to its average volume of 6,696,624. The business has a 50 day simple moving average of $10.07. WeRide has a 1-year low of $6.03 and a 1-year high of $44.00.

WeRide (NASDAQ:WRD - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.18) EPS for the quarter. The firm had revenue of $9.98 million for the quarter. As a group, research analysts expect that WeRide will post -0.68 EPS for the current year.

WeRide declared that its Board of Directors has approved a stock buyback program on Wednesday, May 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new position in WeRide in the first quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new position in WeRide in the first quarter valued at approximately $56,000. OLD Mission Capital LLC bought a new position in WeRide in the first quarter valued at approximately $182,000. Concurrent Investment Advisors LLC bought a new position in WeRide in the first quarter valued at approximately $201,000. Finally, Virtu Financial LLC bought a new position in WeRide in the first quarter valued at approximately $723,000.

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.