MY.Alpha Management HK Advisors Ltd Purchases Shares of 808,842 WeRide Inc. $WRD

MY.Alpha Management HK Advisors Ltd acquired a new position in WeRide Inc. (NASDAQ:WRD) in the 2nd quarter, HoldingsChannel reports. The firm acquired 808,842 shares of the company’s stock, valued at approximately $6,374,000. WeRide makes up 4.8% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 10th largest position.

Other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of WeRide during the first quarter valued at approximately $723,000. Gordian Capital Singapore Pte Ltd purchased a new position in WeRide during the 1st quarter valued at $56,000. OLD Mission Capital LLC purchased a new stake in shares of WeRide in the 1st quarter worth about $182,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of WeRide during the 1st quarter valued at about $40,315,000. Finally, NewEdge Advisors LLC purchased a new position in shares of WeRide during the first quarter valued at about $27,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group began coverage on WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research report on Tuesday. Finally, Citigroup began coverage on shares of WeRide in a research note on Monday, September 29th. They set a “buy” rating and a $15.50 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.75.

WeRide Price Performance

WRD opened at $8.04 on Thursday. The firm has a market cap of $2.60 billion and a PE ratio of -9.57. The stock has a 50-day moving average price of $9.81 and a 200-day moving average price of $9.35. WeRide Inc. has a 1 year low of $6.03 and a 1 year high of $44.00.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Monday, November 24th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $24.02 million for the quarter. WeRide had a negative net margin of 329.54% and a negative return on equity of 24.31%. As a group, sell-side analysts anticipate that WeRide Inc. will post -0.68 EPS for the current year.

About WeRide

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.