WeRide (NASDAQ:WRD) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of WeRide (NASDAQ:WRD) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

WeRide Price Performance

Shares of WRD stock opened at $7.72 on Friday. The firm’s fifty day simple moving average is $8.74. The company has a current ratio of 13.60, a quick ratio of 13.10 and a debt-to-equity ratio of 0.01. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00.

WeRide (NASDAQ:WRD) last issued its earnings results on Wednesday, May 21st. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $9.98 million for the quarter. Research analysts anticipate that WeRide will post -0.68 EPS for the current year.

WeRide declared that its board has authorized a stock repurchase program on Wednesday, May 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of WeRide in the first quarter worth $40,315,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of WeRide in the first quarter worth $12,178,000. Virtu Financial LLC bought a new position in shares of WeRide in the first quarter worth $723,000. Concurrent Investment Advisors LLC bought a new position in shares of WeRide in the first quarter worth $201,000. Finally, OLD Mission Capital LLC bought a new position in shares of WeRide in the first quarter worth $182,000.

WeRide Company Profile

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.