WeRide Inc. (NASDAQ:WRD) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

WeRide Inc. (NASDAQ:WRD) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.62.

A number of equities analysts have recently issued reports on WRD shares. Morgan Stanley restated an “overweight” rating and set a $12.00 target price on shares of WeRide in a research report on Wednesday, August 19th. Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Bank of America reiterated a “buy” rating and issued a $10.70 price target on shares of WeRide in a research report on Friday, August 14th. Finally, Weiss Ratings cut shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WRD. Blue Trust Inc. acquired a new stake in shares of WeRide during the first quarter worth about $34,000. Nykredit A S acquired a new position in WeRide in the 2nd quarter valued at about $57,000. SG Americas Securities LLC acquired a new position in WeRide in the 1st quarter valued at about $136,000. Royal Bank of Canada increased its position in WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after acquiring an additional 1,768 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in WeRide during the 1st quarter valued at approximately $152,000.

WeRide Price Performance

Shares of NASDAQ WRD opened at $4.52 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00. WeRide has a 52-week low of $4.49 and a 52-week high of $12.13. The business has a 50-day moving average price of $5.68 and a 200 day moving average price of $6.42.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. The firm had revenue of $34.11 million for the quarter. Equities analysts predict that WeRide will post -0.67 EPS for the current year.

About WeRide

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.