WeRide (NASDAQ:WRD) Hits New 52-Week Low – Should You Sell?

WeRide Inc. (NASDAQ:WRD)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $4.95 and last traded at $4.9550, with a volume of 573949 shares. The stock had previously closed at $5.12.

Analyst Ratings Changes

A number of analysts recently commented on WRD shares. Bank of America reiterated a “buy” rating and issued a $10.70 target price on shares of WeRide in a report on Friday, August 14th. Weiss Ratings upgraded shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price target on shares of WeRide in a report on Wednesday, August 19th. Finally, Wall Street Zen downgraded WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, WeRide currently has a consensus rating of “Moderate Buy” and an average price target of $11.62.

WeRide Stock Performance

The firm’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $6.50. The company has a quick ratio of 5.00, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.53 billion, a PE ratio of -6.57 and a beta of 1.90.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%.The firm had revenue of $34.11 million during the quarter. As a group, research analysts predict that WeRide Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of WeRide by 11.4% in the 1st quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock valued at $140,000 after purchasing an additional 1,768 shares during the period. Blue Trust Inc. purchased a new position in WeRide during the first quarter valued at approximately $34,000. First Trust Advisors LP increased its stake in WeRide by 24.9% in the 1st quarter. First Trust Advisors LP now owns 23,278 shares of the company’s stock valued at $188,000 after buying an additional 4,646 shares during the period. Nykredit A S acquired a new stake in WeRide during the second quarter valued at $57,000. Finally, Concurrent Investment Advisors LLC grew its stake in WeRide by 31.2% in the second quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock valued at $269,000 after purchasing an additional 11,000 shares in the last quarter.

About WeRide

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.