Y Intercept Hong Kong Ltd Invests $4.11 Million in WeRide Inc. $WRD

Y Intercept Hong Kong Ltd acquired a new stake in shares of WeRide Inc. (NASDAQ:WRD) in the third quarter, HoldingsChannel.com reports. The fund acquired 414,927 shares of the company’s stock, valued at approximately $4,108,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Robert Bosch GmbH bought a new position in shares of WeRide in the 2nd quarter valued at about $32,424,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of WeRide in the 2nd quarter worth approximately $11,023,000. MY.Alpha Management HK Advisors Ltd bought a new position in shares of WeRide during the 2nd quarter valued at approximately $6,374,000. Bank of America Corp DE bought a new position in shares of WeRide during the 2nd quarter valued at approximately $4,687,000. Finally, Brighton Jones LLC purchased a new stake in WeRide during the 3rd quarter valued at $4,404,000.

Analyst Ratings Changes

WRD has been the subject of several recent analyst reports. CLSA began coverage on shares of WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective for the company. Bank of America started coverage on WeRide in a research note on Monday, December 1st. They set a “buy” rating and a $12.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.13.

WeRide Price Performance

NASDAQ:WRD opened at $8.82 on Monday. WeRide Inc. has a 1-year low of $6.03 and a 1-year high of $44.00. The company has a 50-day moving average of $8.71 and a 200 day moving average of $9.41. The firm has a market cap of $2.86 billion, a PE ratio of -10.50 and a beta of 4.32.

WeRide Company Profile

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.