WeRide Inc. (NASDAQ:WRD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of WeRide Inc. (NASDAQ:WRD) have received an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.1250.

WRD has been the topic of a number of research analyst reports. Bank of America began 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. CLSA started coverage on WeRide in a report on Monday, January 5th. They issued an “outperform” rating and a $13.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of WeRide in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th.

Institutional Investors Weigh In On WeRide

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the first quarter worth $27,000. JPMorgan Chase & Co. purchased a new stake in WeRide during the 2nd quarter valued at about $30,000. Leonteq Securities AG acquired a new stake in WeRide in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. lifted its position in WeRide by 37.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after buying an additional 1,339 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in WeRide in the 4th quarter valued at $65,000.

WeRide Trading Up 1.9%

Shares of WRD opened at $6.35 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of -7.56 and a beta of 4.36. The stock’s 50 day moving average is $7.57 and its two-hundred day moving average is $8.82. WeRide has a 12 month low of $6.02 and a 12 month high of $16.86.

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.