WeRide (NASDAQ:WRD) Trading Down 3.5% - What's Next?

Key Points

• WeRide Inc. (NASDAQ:WRD) saw its share price decline by 3.5% during mid-day trading on Friday, trading as low as $10.83 and maintaining a trading volume that is significantly below its average.
• Recent analyst ratings for WeRide include a sell (d-) rating from Weiss Ratings and a buy rating with a price target of $12.00 from UBS Group, while the average price target across analysts stands at $13.75.
• The company reported a negative EPS of ($0.18) for the last quarter, alongside a revenue of $17.75 million, indicating a challenging financial performance amidst ongoing development in autonomous driving technologies.

WeRide Inc. (NASDAQ:WRD - Get Free Report) shares fell 3.5% during mid-day trading on Friday . The stock traded as low as $10.83 and last traded at $10.88. 3,312,827 shares were traded during mid-day trading, a decline of 56% from the average session volume of 7,558,711 shares. The stock had previously closed at $11.27.

Analysts Set New Price Targets

WRD has been the topic of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of WeRide in a research report on Saturday, September 27th. Wall Street Zen upgraded WeRide from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. UBS Group initiated coverage on WeRide in a research report on Monday, August 4th. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Citigroup assumed coverage on WeRide in a report on Monday. They issued a "buy" rating and a $15.50 target price on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.75.

WeRide Stock Performance

The firm has a market capitalization of $3.17 billion and a price-to-earnings ratio of -3.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55. The firm has a 50 day moving average price of $9.77 and a 200-day moving average price of $9.61.

WeRide (NASDAQ:WRD - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.18) EPS for the quarter. The firm 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, sell-side analysts expect that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WeRide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in WeRide by 1,211.8% during the second quarter. Osaic Holdings Inc. now owns 25,580 shares of the company's stock worth $202,000 after acquiring an additional 23,630 shares during the period. Nomura Holdings Inc. acquired a new stake in WeRide during the second quarter worth about $394,000. Rafferty Asset Management LLC acquired a new stake in shares of WeRide in the second quarter valued at approximately $120,000. LMR Partners LLP acquired a new stake in shares of WeRide in the second quarter valued at approximately $85,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of WeRide in the second quarter valued at approximately $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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