WeRide (NASDAQ:WRD) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of WeRide (NASDAQ:WRD) in a research note published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

Separately, Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th.

WeRide Stock Performance

Shares of NASDAQ:WRD opened at $8.70 on Monday. The stock’s 50 day moving average is $8.83. The company has a current ratio of 13.60, a quick ratio of 13.10 and a debt-to-equity ratio of 0.01. WeRide has a one year low of $6.03 and a one year high of $44.00. The stock has a market capitalization of $2.32 billion and a price-to-earnings ratio of -3.12.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $17.75 million during the quarter. WeRide had a negative return on equity of 62.57% and a negative net margin of 595.64%. Equities research analysts predict that WeRide will post -0.68 EPS for the current fiscal year.

WeRide declared that its board has initiated a share buyback plan on Wednesday, May 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On WeRide

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in WeRide during the first quarter worth $40,315,000. FengHe Fund Management Pte. Ltd. bought a new position in shares of WeRide in the 2nd quarter worth $11,023,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of WeRide during the 1st quarter worth $12,178,000. Virtu Financial LLC bought a new stake in WeRide during the first quarter valued at about $723,000. Finally, Concurrent Investment Advisors LLC boosted its position in WeRide by 145.5% during the second quarter. Concurrent Investment Advisors LLC now owns 36,275 shares of the company’s stock valued at $286,000 after purchasing an additional 21,499 shares in the last quarter.

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.