Brokerages Set WeRide Inc. (NASDAQ:WRD) PT at $13.13

WeRide Inc. (NASDAQ:WRD) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.70.

Several research analysts have recently issued reports on the company. Citigroup restated a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a report on Monday, December 29th. Zacks Research raised WeRide from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 23rd. BNP Paribas Exane started coverage on WeRide in a report on Thursday. They set an “outperform” rating and a $11.00 target price on the stock. Finally, CLSA started coverage on WeRide in a research report on Monday, January 5th. They set an “outperform” rating and a $13.00 target price for the company.

WeRide Price Performance

WRD opened at $6.95 on Friday. WeRide has a fifty-two week low of $6.01 and a fifty-two week high of $15.60. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -9.27 and a beta of 4.36. The firm has a 50 day simple moving average of $7.40 and a 200 day simple moving average of $8.76.

WeRide (NASDAQ:WRD) last released its earnings results on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. The business had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. As a group, analysts expect that WeRide will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WRD. China UAE Investment Cooperation Fund L.P. bought a new stake in WeRide in the fourth quarter valued at approximately $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of WeRide by 55.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares in the last quarter. FengHe Fund Management Pte. Ltd. grew its holdings in shares of WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after buying an additional 2,776,381 shares during the period. Temasek Holdings Private Ltd grew its holdings in shares of WeRide by 119.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after buying an additional 1,623,156 shares during the period. Finally, UBS Group AG increased its position in shares of WeRide by 89.2% in the 4th quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock valued at $24,027,000 after buying an additional 1,305,321 shares in the last quarter.

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.