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

Shares of WeRide Inc. (NASDAQ:WRD) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.4833.

Several equities research analysts have recently issued reports on WRD shares. Weiss Ratings raised WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. BNP Paribas Exane started coverage on WeRide in a research report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target on the stock. The Goldman Sachs Group started coverage on WeRide in a research report on Thursday, April 16th. They issued a “buy” rating on the stock. Finally, Zacks Research downgraded WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st.

Institutional Investors Weigh In On WeRide

A number of institutional investors have recently added to or reduced their stakes in WRD. NewEdge Advisors LLC acquired a new stake in WeRide during the first quarter worth about $27,000. JPMorgan Chase & Co. acquired a new stake in WeRide during the second quarter worth about $30,000. Blue Trust Inc. acquired a new stake in WeRide during the first quarter worth about $34,000. Leonteq Securities AG acquired a new stake in WeRide during the fourth quarter worth about $36,000. Finally, Daiwa Securities Group Inc. acquired a new stake in WeRide during the fourth quarter worth about $65,000.

WeRide Stock Performance

Shares of NASDAQ:WRD opened at $5.50 on Monday. The company has a market cap of $1.71 billion, a P/E ratio of -7.33 and a beta of 1.77. The stock’s 50-day moving average is $7.14 and its 200-day moving average is $7.66. WeRide has a 52-week low of $5.18 and a 52-week high of $12.55.

WeRide (NASDAQ:WRD) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The business had revenue of $16.55 million during the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. As a group, equities analysts predict that WeRide will post -0.59 EPS for the current year.

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.