WeRide (NASDAQ:WRD) Stock Rating Lowered by Wall Street Zen

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

WeRide Stock Performance

WeRide stock opened at $9.15 on Friday. WeRide has a 12 month low of $6.03 and a 12 month high of $44.00. The firm’s fifty day moving average is $8.99.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $9.98 million for the quarter. As a group, equities analysts expect that WeRide will post -0.68 earnings per share for the current fiscal year.

WeRide announced that its board has initiated a stock repurchase plan on Wednesday, May 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in shares of WeRide during the 1st quarter worth about $27,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of WeRide during the first quarter valued at approximately $56,000. OLD Mission Capital LLC bought a new stake in shares of WeRide during the first quarter valued at approximately $182,000. Concurrent Investment Advisors LLC acquired a new position in WeRide in the first quarter valued at approximately $201,000. Finally, Virtu Financial LLC acquired a new position in WeRide in the first quarter valued at approximately $723,000.

About WeRide

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.