WeRide (NASDAQ:WRD) Research Coverage Started at CLSA

CLSA began coverage on shares of WeRide (NASDAQ:WRD) in a research note published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $13.00 price target on the stock.

WRD has been the subject of several other reports. Bank of America started coverage on shares of WeRide in a research report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective for the company. Citigroup initiated coverage on shares of WeRide in a report on Monday, September 29th. They set a “buy” rating and a $15.50 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

WeRide Stock Performance

NASDAQ:WRD opened at $9.68 on Monday. The company has a market cap of $3.14 billion, a P/E ratio of -11.52 and a beta of 4.32. WeRide has a 52-week low of $6.03 and a 52-week high of $44.00. The stock’s 50-day simple moving average is $8.65 and its 200 day simple moving average is $9.31.

Institutional Trading of WeRide

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in WeRide during the first quarter worth about $27,000. SBI Securities Co. Ltd. raised its stake in shares of WeRide by 1,263.6% during the 2nd 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 during the period. JPMorgan Chase & Co. purchased a new stake in shares of WeRide in the second quarter worth about $30,000. Levin Capital Strategies L.P. bought a new position in WeRide in the 2nd quarter valued at $79,000. Finally, LMR Partners LLP bought a new stake in WeRide during the second quarter valued at $85,000.

WeRide Company Profile

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.