WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price fell 5.5% during mid-day trading on Friday . The stock traded as low as $8.01 and last traded at $8.06. 4,244,700 shares traded hands during trading, a decline of 45% from the average session volume of 7,727,379 shares. The stock had previously closed at $8.53.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded WeRide from a "sell" rating to a "hold" rating in a report on Sunday.
Get Our Latest Stock Analysis on WRD
WeRide Trading Up 3.9%
The firm has a 50 day simple moving average of $8.81.
WeRide (NASDAQ:WRD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $9.98 million for the quarter. On average, equities research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current year.
WeRide declared that its Board of Directors has approved a share buyback plan on Wednesday, May 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in WRD. NewEdge Advisors LLC acquired a new position in WeRide during the first quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of WeRide in the first quarter worth $56,000. OLD Mission Capital LLC bought a new stake in shares of WeRide during the 1st quarter worth $182,000. Concurrent Investment Advisors LLC acquired a new position in WeRide in the 1st quarter valued at $201,000. Finally, Virtu Financial LLC acquired a new position in WeRide in the 1st quarter valued at $723,000.
WeRide Company Profile
(
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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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