WeRide Inc. (NASDAQ:WRD) Stock Has Average Target Price of $10.35

WeRide Inc. (NASDAQ:WRD) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.35.

A number of equities analysts have recently issued reports on WRD shares. Barclays started coverage on WeRide in a research report on Thursday, October 22nd. They set an “equal weight” rating and a $4.00 price target on the stock. Wall Street Zen lowered shares of WeRide from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 24th. Morgan Stanley reiterated an “overweight” rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Finally, Bank of America reissued a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday, August 14th.

Hedge Funds Weigh In On WeRide

A number of large investors have recently added to or reduced their stakes in WRD. Bank of America Corp DE grew its holdings in 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 worth $29,086,000 after purchasing an additional 3,523,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 valued at $18,656,000 after purchasing an additional 1,605,657 shares during the last quarter. Amova Asset Management Americas Inc. lifted its holdings 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 purchasing an additional 1,605,657 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of WeRide in the 1st quarter worth $1,845,000. Finally, Empowered Funds LLC acquired a new stake in shares of WeRide in the 1st quarter worth $1,461,000.

WeRide Trading Up 10.4%

NASDAQ WRD opened at $4.46 on Friday. The company’s 50-day moving average price is $5.04 and its 200-day moving average price is $6.43. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.39 billion, a PE ratio of -5.95 and a beta of 2.02. WeRide has a 12 month low of $3.94 and a 12 month high of $10.02.

WeRide (NASDAQ:WRD) last posted its quarterly 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%. Equities research analysts forecast that WeRide will post -0.67 earnings per share for the current year.

WeRide Company Profile

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.