WeRide (NASDAQ:WRD) Reaches New 1-Year Low – Should You Sell?

WeRide Inc. (NASDAQ:WRD) reached a new 52-week low during trading on Thursday. The company traded as low as $3.96 and last traded at $3.9650, with a volume of 840,419 shares trading hands. The stock had previously closed at $4.40.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $10.70 target price on shares of WeRide in a report on Friday, August 14th. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Wall Street Zen cut WeRide from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. Barclays assumed coverage on shares of WeRide in a report on Thursday, October 22nd. They set an “equal weight” rating and a $4.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price objective on shares of WeRide in a research report on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WeRide has a consensus rating of “Moderate Buy” and a consensus target price of $10.35.

WeRide Price Performance

The stock has a market cap of $1.25 billion, a P/E ratio of -5.38 and a beta of 2.02. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $5.11 and its 200-day simple moving average is $6.47.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. The business had revenue of $34.11 million for the quarter. As a group, sell-side analysts forecast that WeRide Inc. will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of WeRide in the 3rd quarter valued at approximately $257,000. Green Alpha Advisors LLC acquired a new position in shares of WeRide in the 3rd quarter worth approximately $421,000. Squarepoint Ops LLC bought a new position in shares of WeRide during the 2nd quarter worth approximately $517,000. Nykredit A S acquired a new stake in WeRide in the 2nd quarter valued at $57,000. Finally, Concurrent Investment Advisors LLC boosted its stake in WeRide by 31.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock valued at $269,000 after buying an additional 11,000 shares in the last quarter.

WeRide Company Profile

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.