WeRide (NASDAQ:WRD) Issues Earnings Results

WeRide (NASDAQ:WRD) announced its quarterly earnings results on Monday. The company reported ($0.24) earnings per share (EPS) for the quarter, FiscalAI reports. WeRide had a negative net margin of 329.54% and a negative return on equity of 24.31%. The business had revenue of $44.88 million during the quarter.

WeRide Price Performance

Shares of WeRide stock opened at $6.35 on Monday. The firm’s fifty day simple moving average is $7.57 and its 200-day simple moving average is $8.82. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.56 and a beta of 4.36. WeRide has a 12 month low of $6.02 and a 12 month high of $16.86.

Analyst Ratings Changes

Several brokerages have recently weighed in on WRD. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. CLSA started coverage on shares of WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price target on the stock. Citigroup restated a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Finally, Bank of America began coverage on WeRide in a report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in shares of WeRide in the first quarter valued at about $27,000. JPMorgan Chase & Co. purchased a new position in shares of WeRide during the second quarter worth about $30,000. Leonteq Securities AG purchased a new position in shares of WeRide during the fourth quarter worth about $36,000. SBI Securities Co. Ltd. increased its position in WeRide by 37.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after acquiring an additional 1,339 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in WeRide in the 4th quarter valued at about $65,000.

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.