Traders Purchase Large Volume of Call Options on WeRide (NASDAQ:WRD)

WeRide Inc. (NASDAQ:WRD) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 12,829 call options on the company. This is an increase of 66% compared to the typical volume of 7,740 call options.

WeRide Trading Up 12.0%

Shares of WRD opened at $12.38 on Thursday. The firm has a 50-day moving average price of $9.87 and a 200 day moving average price of $9.52. WeRide has a 12-month low of $6.03 and a 12-month 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 firm has a market capitalization of $3.58 billion and a P/E ratio of -4.44.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a research note on Wednesday. Citigroup initiated coverage on shares of WeRide in a report on Monday, September 29th. They set a “buy” rating and a $15.50 price objective 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. Finally, UBS Group began coverage on shares of WeRide in a report on Monday, August 4th. They issued a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Robert Bosch GmbH acquired a new stake in WeRide during the 2nd quarter worth approximately $32,424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in WeRide in the first quarter worth $40,315,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of WeRide during the second quarter valued at $11,023,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of WeRide during the first quarter valued at $12,178,000. Finally, MY.Alpha Management HK Advisors Ltd bought a new position in WeRide during the second quarter valued at about $6,374,000.

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.