WeRide (NASDAQ:WRD) Upgraded by Wall Street Zen to Hold Rating

WeRide (NASDAQ:WRD) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

WeRide Price Performance

Shares of WRD opened at $8.54 on Friday. The company has a current ratio of 13.60, a quick ratio of 13.10 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $8.69. WeRide has a one year low of $6.03 and a one year high of $44.00.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Wednesday, May 21st. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $9.98 million during the quarter. Research analysts anticipate that WeRide will post -0.68 earnings per share for the current fiscal year.

WeRide announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of WeRide

Several large investors have recently added to or reduced their stakes in WRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in WeRide during the 1st quarter valued at about $40,315,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of WeRide in the first quarter worth about $12,178,000. Virtu Financial LLC acquired a new stake in WeRide in the 1st quarter worth approximately $723,000. Concurrent Investment Advisors LLC bought a new stake in shares of WeRide during the 1st quarter worth $201,000. Finally, OLD Mission Capital LLC bought a new stake in WeRide during the first quarter valued at about $182,000.

WeRide Company Profile

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.