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

WeRide Inc. (NASDAQ:WRD)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $6.95, but opened at $7.41. WeRide shares last traded at $7.1350, with a volume of 1,136,127 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on WRD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a report on Friday. CLSA began coverage on WeRide in a report on Monday, January 5th. They issued an “outperform” rating and a $13.00 price objective on the stock. BNP Paribas Exane began coverage on WeRide in a research note on Thursday. They set an “outperform” rating and a $11.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of WeRide in a report on Monday, January 19th. Finally, Bank of America initiated coverage on shares of WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.70.

WeRide Stock Up 1.5%

The firm has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $8.75. The company has a market cap of $2.29 billion, a PE ratio of -9.41 and a beta of 4.35.

WeRide (NASDAQ:WRD) last announced its earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $44.88 million during the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. Equities research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of WeRide

A number of hedge funds have recently added to or reduced their stakes in WRD. China UAE Investment Cooperation Fund L.P. purchased a new position in shares of WeRide in the 4th quarter valued at approximately $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of WeRide by 55.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares during the period. FengHe Fund Management Pte. Ltd. lifted its holdings in shares of WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after purchasing an additional 2,776,381 shares during the period. Temasek Holdings Private Ltd grew its position in WeRide by 119.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after buying an additional 1,623,156 shares during the last quarter. Finally, UBS Group AG increased its stake in WeRide by 89.2% in the 4th quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock valued at $24,027,000 after buying an additional 1,305,321 shares during the period.

About WeRide

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.