WeRide (NASDAQ:WRD) Upgraded at Macquarie Capit

Macquarie Capit upgraded shares of WeRide (NASDAQ:WRD) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

WRD has been the subject of several other research reports. Bank of America assumed coverage on shares of WeRide in a report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. CLSA assumed coverage on WeRide in a research report on Monday, January 5th. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, Citigroup reissued a “buy” rating on shares of WeRide in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, WeRide has an average rating of “Moderate Buy” and a consensus price target of $13.13.

WeRide Stock Performance

WRD opened at $7.46 on Tuesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -8.88 and a beta of 4.32. The firm’s 50-day simple moving average is $8.69 and its 200-day simple moving average is $9.27. WeRide has a twelve month low of $6.03 and a twelve month high of $44.00.

Hedge Funds Weigh In On WeRide

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the 1st quarter valued at approximately $27,000. Concurrent Investment Advisors LLC increased its stake in WeRide by 145.5% in 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. Levin Capital Strategies L.P. bought a new stake in WeRide in the second quarter valued at approximately $79,000. SBI Securities Co. Ltd. raised its holdings 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. Finally, Robert Bosch GmbH bought a new position in shares of WeRide during the second quarter worth $32,424,000.

WeRide Company Profile

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.