WeRide (NASDAQ:WRD) Cut to “Hold” at Zacks Research

Zacks Research cut shares of WeRide (NASDAQ:WRD) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group started coverage on WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. CLSA started coverage on WeRide in a research note on Monday, January 5th. They issued an “outperform” rating and a $13.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research note on Friday, March 27th. HSBC started coverage on WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price target on the stock. Finally, BNP Paribas Exane started coverage on WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.48.

WeRide Stock Performance

Shares of WRD opened at $7.67 on Tuesday. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -10.23 and a beta of 2.95. The business’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $8.41. WeRide has a 52 week low of $6.01 and a 52 week high of $12.55.

WeRide (NASDAQ:WRD) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $44.88 million during the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. As a group, research analysts forecast that WeRide will post -1.29 EPS for the current year.

Institutional Trading of WeRide

Hedge funds have recently added to or reduced their stakes in the business. Keystone Investors PTE Ltd. raised its stake in WeRide by 3,516.8% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 842,389 shares of the company’s stock worth $8,340,000 after buying an additional 819,098 shares during the period. Carrhae Capital LLP acquired a new stake in WeRide during the 3rd quarter worth $16,153,000. Varma Mutual Pension Insurance Co acquired a new stake in WeRide during the 3rd quarter worth $6,732,000. Ariose Capital Management Ltd acquired a new stake in WeRide during the 3rd quarter worth $2,569,000. Finally, Temasek Holdings Private Ltd acquired a new stake in WeRide during the 3rd quarter worth $13,421,000.

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.