WeRide (NASDAQ:WRD) Hits New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

A number of research firms recently commented on WRD. Weiss Ratings raised shares of WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. Bank of America reissued a “buy” rating and set a $10.70 target price on shares of WeRide in a research note on Friday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Finally, Wall Street Zen cut 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.62.

WeRide Stock Down 9.1%

The business has a fifty day moving average price of $5.75 and a two-hundred day moving average price of $6.48. 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 company has a market cap of $1.40 billion, a price-to-earnings ratio of -6.01 and a beta of 1.90.

WeRide (NASDAQ:WRD) last posted its quarterly earnings results 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 company had revenue of $34.11 million for the quarter. On average, equities analysts predict that WeRide Inc. will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On WeRide

A number of institutional investors have recently modified their holdings of WRD. Bank of America Corp DE increased its stake in shares of WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock worth $29,086,000 after acquiring an additional 3,523,785 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after purchasing an additional 1,623,156 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after purchasing an additional 1,605,657 shares during the last quarter. Amova Asset Management Americas Inc. increased its position in WeRide by 229.3% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock worth $18,609,000 after purchasing an additional 1,605,657 shares during the last quarter. Finally, Styrax Capital LP purchased a new stake in shares of WeRide during the 4th quarter worth about $11,795,000.

WeRide Company Profile

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.