WeRide (NASDAQ:WRD) Trading Up 5.6% - Time to Buy?

Key Points

• WeRide Inc. (NASDAQ: WRD) shares rose by 5.6%, trading at $10.39, amid a lower volume of 5,551,660 shares compared to the average.
• Analysts give WeRide an average rating of "Buy" with a target price of $12.00, indicating a positive outlook for the stock.
• The company reported a loss of ($0.18) earnings per share and a revenue of $17.75 million for the last quarter, showing significant negative margins.

WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price was up 5.6% during mid-day trading on Monday . The company traded as high as $10.42 and last traded at $10.39. Approximately 5,551,660 shares changed hands during trading, a decline of 25% from the average daily volume of 7,359,688 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

A number of analysts have recently commented on WRD shares. UBS Group started coverage on shares of WeRide in a report on Monday, August 4th. They set a "buy" rating and a $12.00 target price on the stock. Wall Street Zen upgraded shares of WeRide from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $12.00.

WeRide Trading Up 4.9%

The stock has a 50-day simple moving average of $9.27 and a two-hundred day simple moving average of $10.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03. The firm has a market cap of $2.99 billion and a PE ratio of -3.70.

WeRide (NASDAQ:WRD - Get Free Report) last issued its 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 business had revenue of $17.75 million during the quarter. As a group, sell-side analysts anticipate that WeRide Inc. will post -0.68 EPS for the current year.

WeRide announced that its board has approved a stock buyback plan on Wednesday, May 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On WeRide

Several hedge funds and other institutional investors have recently made changes to their positions in WRD. Robert Bosch GmbH purchased a new stake in shares of WeRide during the 2nd quarter valued at about $32,424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of WeRide during the 1st quarter valued at about $40,315,000. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of WeRide during the 2nd quarter valued at about $11,023,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of WeRide during the 1st quarter valued at about $12,178,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in shares of WeRide during the 2nd quarter valued at about $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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