California Public Employees Retirement System Purchases New Position in WeRide Inc. $WRD

California Public Employees Retirement System acquired a new position in shares of WeRide Inc. (NASDAQ:WRD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 228,058 shares of the company’s stock, valued at approximately $1,845,000. California Public Employees Retirement System owned approximately 0.07% of WeRide at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS Group AG grew its stake in shares of WeRide by 89.2% during the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock worth $24,027,000 after buying an additional 1,305,321 shares during the last quarter. FengHe Fund Management Pte. Ltd. increased its holdings in shares of WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after buying an additional 2,776,381 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of WeRide in the 4th quarter valued at $6,079,000. China UAE Investment Cooperation Fund L.P. bought a new position in shares of WeRide in the 4th quarter valued at $67,443,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of WeRide during the 4th quarter valued at $2,331,000.

WeRide Price Performance

WeRide stock opened at $5.32 on Monday. The stock’s 50 day moving average is $6.32 and its 200 day moving average is $7.23. WeRide Inc. has a one year low of $5.18 and a one year high of $12.55. The firm has a market cap of $1.65 billion, a P/E ratio of -7.09 and a beta of 1.92.

WeRide (NASDAQ:WRD) last released its earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The firm had revenue of $16.55 million for the quarter. Equities analysts anticipate that WeRide Inc. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on WRD. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. Zacks Research downgraded WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. HSBC began coverage on WeRide in a research note on Tuesday, March 31st. They set a “buy” rating and a $11.40 price target on the stock. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Finally, The Goldman Sachs Group initiated coverage on WeRide in a research note on Thursday, April 16th. They issued a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.48.

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.