WeRide (NASDAQ:WRD) Now Covered by BNP Paribas Exane

BNP Paribas Exane assumed coverage on shares of WeRide (NASDAQ:WRD) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $11.00 price objective on the stock.

Several other analysts have also issued reports on the stock. Citigroup restated a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th. Zacks Research upgraded WeRide from a “hold” rating to a “strong-buy” rating in a report on Monday. CLSA assumed coverage on WeRide in a research report on Monday, January 5th. They set an “outperform” rating and a $13.00 price target on the stock. Finally, Bank of America initiated coverage on WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.70.

WeRide Price Performance

Shares of WRD opened at $7.64 on Thursday. WeRide has a 1-year low of $6.01 and a 1-year high of $15.64. The company has a market capitalization of $2.48 billion, a P/E ratio of -10.19 and a beta of 4.36. The firm’s 50 day simple moving average is $7.44 and its 200 day simple moving average is $8.78.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. The company had revenue of $44.88 million during the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. On average, equities analysts anticipate that WeRide will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On WeRide

A number of hedge funds have recently modified their holdings of the company. China UAE Investment Cooperation Fund L.P. bought a new position in shares of WeRide during the fourth quarter valued at about $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of WeRide by 55.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares during the last quarter. FengHe Fund Management Pte. Ltd. grew its stake in shares of WeRide by 198.5% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after purchasing an additional 2,776,381 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in WeRide by 119.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after purchasing an additional 1,623,156 shares during the period. Finally, UBS Group AG increased its holdings in WeRide by 89.2% during the 4th quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock valued at $24,027,000 after purchasing an additional 1,305,321 shares during the period.

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.