Greenwoods Asset Management Hong Kong Ltd. Purchases Shares of 2,684,200 WeRide Inc. $WRD

Greenwoods Asset Management Hong Kong Ltd. purchased a new position in shares of WeRide Inc. (NASDAQ:WRD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,684,200 shares of the company’s stock, valued at approximately $26,574,000. WeRide comprises about 0.6% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 22nd biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.91% of WeRide at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the 1st quarter worth about $27,000. SBI Securities Co. Ltd. lifted its position in WeRide by 1,263.6% during the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock valued at $28,000 after buying an additional 3,298 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in WeRide during the second quarter valued at approximately $30,000. Levin Capital Strategies L.P. purchased a new stake in WeRide during the second quarter worth approximately $79,000. Finally, LMR Partners LLP acquired a new stake in shares of WeRide in the second quarter worth $85,000.

Analysts Set New Price Targets

WRD has been the topic of a number of research reports. CLSA assumed coverage on shares of WeRide in a research note on Monday, January 5th. They issued an “outperform” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. Citigroup restated a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Finally, Bank of America started coverage on WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

WeRide Stock Performance

Shares of NASDAQ WRD opened at $7.09 on Friday. WeRide Inc. has a 1 year low of $6.03 and a 1 year high of $30.05. The stock’s 50-day simple moving average is $8.50 and its 200-day simple moving average is $9.19. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -8.44 and a beta of 4.32.

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.