FengHe Fund Management Pte. Ltd. Acquires New Stake in WeRide Inc. $WRD

FengHe Fund Management Pte. Ltd. purchased a new stake in WeRide Inc. (NASDAQ:WRD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,398,800 shares of the company’s stock, valued at approximately $11,023,000. WeRide makes up approximately 1.8% of FengHe Fund Management Pte. Ltd.’s investment portfolio, making the stock its 16th largest holding.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in WeRide in the 1st quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new stake in WeRide in the 1st quarter valued at approximately $56,000. OLD Mission Capital LLC bought a new stake in shares of WeRide in the first quarter worth $182,000. Concurrent Investment Advisors LLC bought a new stake in shares of WeRide in the first quarter worth $201,000. Finally, Virtu Financial LLC bought a new stake in shares of WeRide in the first quarter worth $723,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WRD shares. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. UBS Group started coverage on WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Citigroup began coverage on WeRide in a report on Monday. They set a “buy” rating and a $15.50 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $13.75.

WeRide Stock Up 4.2%

Shares of WRD stock opened at $10.32 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.55 and a current ratio of 11.03. The firm’s 50-day moving average is $9.74 and its 200-day moving average is $9.70. The stock has a market cap of $2.99 billion and a price-to-earnings ratio of -3.70. WeRide Inc. has a 52-week low of $6.03 and a 52-week high of $44.00.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. The business had revenue of $17.75 million during the quarter. Sell-side analysts predict that WeRide Inc. will post -0.68 EPS for the current year.

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.