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

WeRide Inc. (NASDAQ:WRD) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.4833.

A number of research analysts have recently issued reports on WRD shares. Zacks Research lowered WeRide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings downgraded WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. HSBC initiated coverage on shares of WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price objective on the stock. Finally, BNP Paribas Exane began coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective for the company.

WeRide Stock Down 1.4%

Shares of WRD stock opened at $5.71 on Friday. The stock has a market capitalization of $1.77 billion, a PE ratio of -7.61 and a beta of 1.92. WeRide has a 52-week low of $5.18 and a 52-week high of $12.55. The stock’s 50-day moving average price is $6.36 and its 200 day moving average price is $7.26.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. The company had revenue of $16.55 million for the quarter. Analysts expect that WeRide will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in WeRide in the first quarter valued at about $27,000. JPMorgan Chase & Co. purchased a new stake in WeRide in the 2nd quarter valued at approximately $30,000. Leonteq Securities AG acquired a new position in WeRide during the 4th quarter worth approximately $36,000. Blue Trust Inc. acquired a new position in WeRide during the 1st quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of WeRide during the 4th quarter worth approximately $65,000.

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.