MY.Alpha Management HK Advisors Ltd Purchases Shares of 808,842 WeRide Inc. $WRD

MY.Alpha Management HK Advisors Ltd bought a new position in WeRide Inc. (NASDAQ:WRD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 808,842 shares of the company’s stock, valued at approximately $6,374,000. WeRide comprises approximately 4.8% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 10th biggest holding. MY.Alpha Management HK Advisors Ltd owned 0.30% of WeRide at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC bought a new stake in shares of WeRide during the 1st quarter valued at about $27,000. SBI Securities Co. Ltd. raised its stake in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock valued at $28,000 after purchasing an additional 3,298 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in WeRide in the second quarter valued at approximately $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in WeRide during the first quarter valued at approximately $56,000. Finally, Levin Capital Strategies L.P. bought a new stake in WeRide during the second quarter valued at approximately $79,000.

Wall Street Analyst Weigh In

WRD has been the topic of a number of research analyst reports. UBS Group began coverage on shares of WeRide in a report on Monday, August 4th. They issued a “buy” rating and a $12.00 price target on the stock. Citigroup initiated coverage on shares of WeRide in a research report on Monday, September 29th. They issued a “buy” rating and a $15.50 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.75.

WeRide Trading Up 1.5%

NASDAQ WRD opened at $8.04 on Thursday. The firm has a market cap of $2.60 billion and a PE ratio of -9.57. WeRide Inc. has a 1-year low of $6.03 and a 1-year high of $44.00. The stock has a 50-day moving average of $9.81 and a 200-day moving average of $9.35.

WeRide (NASDAQ:WRD) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.15) EPS for the quarter. The company had revenue of $24.02 million during the quarter. WeRide had a negative return on equity of 24.31% and a negative net margin of 329.54%. As a group, equities research analysts forecast that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

WeRide 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.