WeRide (NASDAQ:WRD) Now Covered by Citigroup

Key Points

• WeRide has received an upgraded rating from Citigroup, moving to a "strong-buy" status amidst other favorable ratings from analysts, including a "buy" rating from UBS Group and an average target price of $13.75.
• The company reported a negative earnings per share (EPS) of ($0.18) for the last quarter, with revenue totaling $17.75 million and a notably high negative net margin of 595.64%.
• WeRide's stock has experienced a recent decline of 5.0%, and its market capitalization stands at $2.86 billion, with a current trading price of $9.90.

Citigroup initiated coverage on shares of WeRide (NASDAQ:WRD - Get Free Report) in a report released on Monday, Marketbeat.com reports. The brokerage set a "buy" rating on the stock.

WRD has been the subject of a number of other reports. Wall Street Zen upgraded WeRide from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. UBS Group began coverage on WeRide in a research note on Monday, August 4th. They set a "buy" rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average target price of $13.75.

WeRide Stock Down 5.0%

WRD opened at $9.90 on Monday. WeRide has a 1-year low of $6.03 and a 1-year high of $44.00. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.86 billion and a price-to-earnings ratio of -3.55. The business has a 50 day moving average of $9.73 and a 200-day moving average of $9.70.

WeRide (NASDAQ:WRD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. The business had revenue of $17.75 million during the quarter. As a group, sell-side analysts anticipate that WeRide will post -0.68 earnings per share for the current year.

Institutional Trading of WeRide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in WeRide in the first quarter worth about $27,000. SBI Securities Co. Ltd. increased its position in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company's stock worth $28,000 after purchasing an additional 3,298 shares during the period. JPMorgan Chase & Co. acquired a new stake in WeRide in the second quarter worth about $30,000. Gordian Capital Singapore Pte Ltd acquired a new stake in WeRide in the first quarter worth about $56,000. Finally, Levin Capital Strategies L.P. acquired a new stake in WeRide in the second quarter worth about $79,000.

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.