WeRide (NASDAQ:WRD) Stock Rating Lowered by Wall Street Zen

WeRide (NASDAQ:WRD) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Barclays assumed coverage on WeRide in a report on Thursday. They issued an “equal weight” rating and a $4.00 price objective on the stock. Bank of America restated a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.35.

WeRide Stock Performance

WRD opened at $4.17 on Friday. WeRide has a 52-week low of $4.03 and a 52-week high of $12.13. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.30 billion, a P/E ratio of -5.56 and a beta of 1.90. The firm’s 50-day moving average price is $5.39 and its 200-day moving average price is $6.23.

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

Hedge Funds Weigh In On WeRide

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after buying an additional 3,523,785 shares in the last quarter. California Public Employees Retirement System acquired a new position in shares of WeRide during the 1st quarter worth approximately $1,845,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of WeRide by 229.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after buying an additional 1,605,657 shares during the period. Empowered Funds LLC acquired a new position in shares of WeRide during the 1st quarter worth approximately $1,461,000. Finally, Amova Asset Management Americas Inc. lifted its position in shares of WeRide by 229.3% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock valued at $18,609,000 after buying an additional 1,605,657 shares in the last quarter.

About WeRide

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.