WeRide (NASDAQ:WRD) Stock Price Down 6.5% – Should You Sell?

WeRide Inc. (NASDAQ:WRD) fell 6.5% during trading on Thursday . The company traded as low as $7.36 and last traded at $7.4450. 783,781 shares changed hands during trading, a decline of 80% from the average session volume of 3,904,169 shares. The stock had previously closed at $7.96.

Analyst Ratings Changes

A number of research firms have recently commented on WRD. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. BNP Paribas Exane started coverage on WeRide in a research note on Thursday, March 26th. They set an “outperform” rating and a $11.00 target price on the stock. Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded WeRide from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, The Goldman Sachs Group started coverage on WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.48.

WeRide Stock Down 8.1%

The company’s 50-day moving average is $7.63 and its two-hundred day moving average is $7.89. The company has a market capitalization of $2.30 billion, a P/E ratio of -9.78 and a beta of 1.77.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. The company had revenue of $16.55 million during the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%. On average, sell-side analysts predict that WeRide Inc. will post -0.57 EPS for the current year.

Institutional Investors Weigh In On WeRide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. NewEdge Advisors LLC bought a new stake in WeRide during the 1st quarter valued at $27,000. JPMorgan Chase & Co. bought a new stake in WeRide during the 2nd quarter valued at $30,000. First Trust Advisors LP bought a new stake in WeRide during the 2nd quarter valued at $98,000. Marshall Wace LLP bought a new stake in WeRide during the 2nd quarter valued at $326,000. Finally, Vienna Asset Management LLC bought a new stake in WeRide during the 2nd quarter valued at $1,128,000.

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.