WeRide Inc. (NASDAQ:WRD) Receives $13.13 Average Price Target from Analysts

Shares of WeRide Inc. (NASDAQ:WRD) have been assigned an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.1250.

A number of equities research analysts have recently weighed in on the stock. CLSA started coverage on shares of WeRide in a report on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Bank of America started coverage on shares of WeRide in a report on Monday, December 1st. They issued a “buy” rating and a $12.00 price target for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a research note on Monday, January 19th.

WeRide Price Performance

Shares of WRD stock opened at $7.09 on Tuesday. The stock’s fifty day moving average price is $8.40 and its 200 day moving average price is $9.15. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -8.44 and a beta of 4.32. WeRide has a 1-year low of $6.03 and a 1-year high of $24.25.

Institutional Investors Weigh In On WeRide

A number of hedge funds have recently modified their holdings of WRD. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the 1st quarter valued at approximately $27,000. Levin Capital Strategies L.P. acquired a new stake in WeRide during the second quarter worth $79,000. SBI Securities Co. Ltd. raised its position in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock valued at $28,000 after purchasing an additional 3,298 shares during the period. Robert Bosch GmbH purchased a new stake in WeRide in the second quarter valued at $32,424,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of WeRide in the 2nd quarter valued at $30,000.

About WeRide

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.