WeRide (NASDAQ:WRD) Research Coverage Started at Citigroup

Citigroup started coverage on shares of WeRide (NASDAQ:WRD) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $15.50 price objective on the stock.

WRD has been the subject of several other research reports. UBS Group began coverage on shares of WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 price target for the company. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.75.

WeRide Stock Up 4.2%

Shares of NASDAQ WRD opened at $10.32 on Monday. The company has a 50 day simple moving average of $9.74 and a 200 day simple moving average of $9.70. The firm has a market cap of $2.99 billion and a PE ratio of -3.70. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The firm had revenue of $17.75 million for the quarter. On average, research analysts forecast that WeRide will post -0.68 EPS for the current year.

Institutional Investors Weigh In On WeRide

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its position in WeRide by 1,211.8% in the 2nd quarter. Osaic Holdings Inc. now owns 25,580 shares of the company’s stock valued at $202,000 after purchasing an additional 23,630 shares during the period. Nomura Holdings Inc. acquired a new stake in WeRide in the 2nd quarter valued at $394,000. Rafferty Asset Management LLC acquired a new stake in WeRide in the 2nd quarter valued at $120,000. LMR Partners LLP acquired a new stake in WeRide in the 2nd quarter valued at $85,000. Finally, Engineers Gate Manager LP acquired a new stake in WeRide in the 2nd quarter valued at $122,000.

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.