WeRide (NASDAQ:WRD) Stock Price Down 3.5% – Here’s What Happened

WeRide Inc. (NASDAQ:WRD) shares dropped 3.5% on Friday . The company traded as low as $10.83 and last traded at $10.88. Approximately 3,312,827 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 7,558,711 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WRD. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. UBS Group started coverage on WeRide in a report on Monday, August 4th. They issued a “buy” rating and a $12.00 price objective on the stock. Citigroup started coverage on shares of WeRide in a report on Monday, September 29th. They issued a “buy” rating and a $15.50 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.75.

WeRide Price Performance

The firm has a market capitalization of $3.17 billion and a price-to-earnings ratio of -3.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55. The company’s 50-day moving average is $9.77 and its 200-day moving average is $9.56.

WeRide (NASDAQ:WRD) last issued its earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The firm had revenue of $17.75 million during the quarter. On average, research analysts expect that WeRide Inc. will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in shares of WeRide during the first quarter valued at about $27,000. SBI Securities Co. Ltd. boosted its position in WeRide by 1,263.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock valued at $28,000 after purchasing an additional 3,298 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of WeRide in the 2nd quarter worth about $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of WeRide during the first quarter valued at approximately $56,000. Finally, Levin Capital Strategies L.P. bought a new stake in WeRide during the 2nd quarter valued at $79,000.

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.