WeRide (NASDAQ:WRD) Trading 6.9% Higher - Here's What Happened

Key Points

• WeRide Inc. (NASDAQ:WRD) shares increased by 6.9%, reaching a high of $11.69 during trading, though overall volume decreased significantly compared to average trading levels.
• Analyst ratings for WeRide vary, with two "buy" ratings and one "sell" rating; the consensus price target is set at $13.75.
• The company's most recent earnings report indicated a loss of ($0.18) earnings per share, with projected losses for the current year estimated at ($0.68) per share.

WeRide Inc. (NASDAQ:WRD - Get Free Report) shares traded up 6.9% during mid-day trading on Wednesday . The stock traded as high as $11.69 and last traded at $11.81. 1,856,445 shares changed hands during trading, a decline of 75% from the average session volume of 7,537,394 shares. The stock had previously closed at $11.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WeRide in a research note on Wednesday. UBS Group initiated coverage on WeRide in a research note on Monday, August 4th. They issued a "buy" rating and a $12.00 price target on the stock. Finally, Citigroup initiated coverage on WeRide in a research note on Monday, September 29th. They issued a "buy" rating and a $15.50 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.75.

WeRide Stock Performance

The company has a market capitalization of $3.50 billion and a PE ratio of -4.32. The company has a 50 day moving average of $9.81 and a two-hundred day moving average of $9.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55.

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. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The firm had revenue of $17.75 million during the quarter. As a group, equities 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 institutional investors have recently modified their holdings of the stock. Robert Bosch GmbH purchased a new stake in shares of WeRide in the second quarter worth $32,424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of WeRide in the first quarter worth $40,315,000. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of WeRide in the second quarter worth $11,023,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of WeRide in the first quarter worth $12,178,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in shares of WeRide in the second quarter worth $6,374,000.

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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