WeRide (NASDAQ:WRD) Shares Gap Up – Here’s Why

WeRide Inc. (NASDAQ:WRD) gapped up before the market opened on Tuesday . The stock had previously closed at $8.55, but opened at $8.84. WeRide shares last traded at $8.84, with a volume of 3,370,718 shares.

WeRide Stock Down 0.5%

The firm’s fifty day simple moving average is $10.86.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.29) earnings per share for the quarter. The company had revenue of $19.29 million during the quarter. As a group, equities research analysts predict that WeRide Inc. will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of WeRide during the first quarter worth $40,315,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of WeRide during the 1st quarter valued at $12,178,000. Virtu Financial LLC bought a new stake in WeRide during the 1st quarter worth $723,000. Concurrent Investment Advisors LLC acquired a new position in WeRide in the 1st quarter worth about $201,000. Finally, OLD Mission Capital LLC acquired a new position in WeRide in the 1st quarter worth about $182,000.

WeRide Company Profile

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.