WeRide (NASDAQ:WRD) Hits New 12-Month Low – Should You Sell?

WeRide Inc. (NASDAQ:WRD) hit a new 52-week low on Thursday. The stock traded as low as $5.17 and last traded at $5.2050, with a volume of 534147 shares trading hands. The stock had previously closed at $5.31.

Analysts Set New Price Targets

A number of analysts have commented on WRD shares. Weiss Ratings raised WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 25th. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Wall Street Zen cut WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Bank of America reiterated a “buy” rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th. Seven research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.62.

WeRide Stock Down 1.6%

The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $5.84 and its 200-day simple moving average is $6.54. The firm has a market capitalization of $1.62 billion, a P/E ratio of -6.97 and a beta of 1.89.

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 net margin of 199.09% and a negative return on equity of 24.12%. 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 Trading of WeRide

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in WeRide during the second quarter worth $517,000. Nykredit A S bought a new position in WeRide in the 2nd quarter valued at $57,000. Concurrent Investment Advisors LLC increased its position in shares of WeRide by 31.2% during the 2nd 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 during the last quarter. Headlands Technologies LLC increased its position in shares of WeRide by 586.3% during the 2nd quarter. Headlands Technologies LLC now owns 104,585 shares of the company’s stock valued at $609,000 after purchasing an additional 89,347 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of WeRide by 4,926.0% during the 1st quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after purchasing an additional 3,523,785 shares during the period.

About WeRide

WeRide Inc is a global autonomous driving technology company that develops hardware, software and operating services for vehicles capable of performing driving tasks with limited or no human intervention. The company focuses primarily on Level 2 through Level 4 autonomous driving technologies for passenger transportation, freight and urban services.

Its product portfolio includes robotaxis, robobuses, robovans and autonomous driving systems for logistics and other commercial vehicles. WeRide also develops autonomous sanitation vehicles, including street-sweeping and cleaning vehicles, as well as advanced driver-assistance and autonomous-driving solutions for vehicle manufacturers and mobility operators.

Founded in 2017 and headquartered in Guangzhou, China, WeRide has conducted testing and commercial or pilot operations in multiple markets, including China, Singapore and the United Arab Emirates.