WeRide (NASDAQ:WRD) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of WeRide (NASDAQ:WRD) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on WRD. BNP Paribas Exane started coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 target price for the company. Citigroup reiterated a “buy” rating on shares of WeRide in a report on Monday, January 19th. CLSA assumed coverage on shares of WeRide in a research note on Monday, January 5th. They issued an “outperform” rating and a $13.00 price target on the stock. The Goldman Sachs Group began coverage on shares of WeRide in a report on Thursday, April 16th. They set a “buy” rating for the company. Finally, HSBC assumed coverage on WeRide in a report on Tuesday, March 31st. They issued a “buy” rating and a $11.40 target price on the stock. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, WeRide has a consensus rating of “Moderate Buy” and an average target price of $12.48.

WeRide Stock Down 0.7%

Shares of WeRide stock opened at $8.04 on Tuesday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -10.72 and a beta of 2.95. The stock’s 50-day simple moving average is $7.27 and its 200-day simple moving average is $8.41. WeRide has a 52 week low of $6.01 and a 52 week high of $12.55.

WeRide (NASDAQ:WRD) last released its earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. On average, equities analysts expect that WeRide will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. bought a new position in WeRide during the first quarter valued at $34,000. SG Americas Securities LLC bought a new stake in shares of WeRide in the 1st quarter worth about $136,000. Vident Advisory LLC purchased a new stake in shares of WeRide during the 4th quarter valued at about $298,000. Equitable Holdings Inc. purchased a new stake in shares of WeRide during the 4th quarter valued at about $108,000. Finally, Trexquant Investment LP lifted its holdings in shares of WeRide by 2,038.2% in the 4th quarter. Trexquant Investment LP now owns 328,899 shares of the company’s stock valued at $2,855,000 after acquiring an additional 313,517 shares during the last quarter.

About WeRide

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.