WeRide Inc. (NASDAQ:WRD) Receives $12.48 Consensus Target Price from Analysts

WeRide Inc. (NASDAQ:WRD) has been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.4833.

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. HSBC assumed coverage on WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 target price on the stock. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group began coverage on WeRide in a research note on Thursday, April 16th. They set a “buy” rating for the company.

WeRide Stock Performance

WRD stock opened at $5.32 on Friday. The company has a market cap of $1.65 billion, a P/E ratio of -7.09 and a beta of 1.92. WeRide has a 52 week low of $5.18 and a 52 week high of $12.55. The company’s 50-day moving average price is $6.32 and its 200 day moving average price is $7.23.

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

Hedge Funds Weigh In On WeRide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its stake in shares of WeRide by 89.2% during the 4th quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock worth $24,027,000 after purchasing an additional 1,305,321 shares in the last quarter. FengHe Fund Management Pte. Ltd. lifted its stake in WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after buying an additional 2,776,381 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in WeRide during the 4th quarter valued at $6,079,000. China UAE Investment Cooperation Fund L.P. purchased a new position in WeRide during the fourth quarter worth $67,443,000. Finally, Amova Asset Management Americas Inc. raised its holdings in shares of WeRide by 229.3% in the first quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after acquiring an additional 1,605,657 shares during the last quarter.

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.