WeRide (NASDAQ:WRD) Stock Price Up 9.4% – Here’s What Happened

WeRide Inc. (NASDAQ:WRD) rose 9.4% during mid-day trading on Thursday . The stock traded as high as $7.77 and last traded at $7.8250. Approximately 1,368,195 shares traded hands during trading, a decline of 82% from the average daily volume of 7,545,526 shares. The stock had previously closed at $7.15.

Wall Street Analysts Forecast Growth

WRD has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of WeRide in a research report on Thursday, October 30th. UBS Group began coverage on shares of WeRide in a research report on Monday, August 4th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Citigroup initiated coverage on WeRide in a research report on Monday, September 29th. They set a “buy” rating and a $15.50 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.75.

WeRide Stock Up 2.9%

The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.38 billion and a P/E ratio of -2.63. The firm’s fifty day moving average is $10.06 and its 200-day moving average is $9.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRD. SBI Securities Co. Ltd. grew its stake in shares of WeRide by 37.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after purchasing an additional 1,339 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of WeRide during the 1st quarter worth approximately $27,000. First Trust Advisors LP raised its stake in shares of WeRide by 28.3% during the third quarter. First Trust Advisors LP now owns 16,005 shares of the company’s stock worth $158,000 after buying an additional 3,535 shares during the last quarter. JPMorgan Chase & Co. bought a new position in WeRide in the second quarter valued at approximately $30,000. Finally, Concurrent Investment Advisors LLC grew its holdings in WeRide by 11.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 40,250 shares of the company’s stock worth $398,000 after acquiring an additional 3,975 shares during the period.

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.