WeRide (NASDAQ:WRD) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of WeRide (NASDAQ:WRD) from a hold rating to a sell rating in a research note released on Saturday.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Bank of America reissued a “buy” rating and issued a $10.70 target price on shares of WeRide in a research report on Friday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.32.

WeRide Price Performance

Shares of WRD stock opened at $6.08 on Friday. WeRide has a fifty-two week low of $5.18 and a fifty-two week high of $12.55. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -8.11 and a beta of 1.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36. The stock’s 50-day simple moving average is $5.90 and its 200-day simple moving average is $6.87.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. The company had revenue of $34.11 million during the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. As a group, equities analysts forecast that WeRide will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WeRide

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in WeRide by 11.4% during the first quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after purchasing an additional 1,768 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the first quarter worth about $27,000. First Trust Advisors LP raised its position in shares of WeRide by 16.4% during the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after purchasing an additional 2,627 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in WeRide in the 2nd quarter valued at about $30,000. Finally, Leonteq Securities AG purchased a new stake in shares of WeRide during the fourth quarter worth $36,000.

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.