WeRide Inc. (NASDAQ:WRD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of WeRide Inc. (NASDAQ:WRD) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $13.1250.

A number of equities analysts recently commented on WRD shares. Citigroup reissued a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a report on Monday, December 29th. CLSA assumed coverage on WeRide in a report on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, Bank of America initiated coverage on shares of WeRide in a research report on Monday, December 1st. They issued a “buy” rating and a $12.00 price objective for the company.

WeRide Stock Performance

Shares of NASDAQ:WRD opened at $8.26 on Friday. The firm has a fifty day moving average price of $8.83 and a 200 day moving average price of $9.39. WeRide has a fifty-two week low of $6.03 and a fifty-two week high of $44.00. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -9.83 and a beta of 4.32.

Hedge Funds Weigh In On WeRide

A number of hedge funds and other institutional investors have recently modified their holdings of WRD. Robert Bosch GmbH purchased a new stake in shares of WeRide during the 2nd quarter worth $32,424,000. Brighton Jones LLC purchased a new position in shares of WeRide in the 3rd quarter valued at approximately $4,404,000. Ariose Capital Management Ltd purchased a new position in shares of WeRide in the third quarter worth $2,569,000. FengHe Fund Management Pte. Ltd. purchased a new position in WeRide in the 2nd quarter worth $11,023,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of WeRide in the third quarter worth about $4,108,000.

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.