Styrax Capital LP Purchases Shares of 1,358,902 WeRide Inc. $WRD

Styrax Capital LP acquired a new position in shares of WeRide Inc. (NASDAQ:WRD) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,358,902 shares of the company’s stock, valued at approximately $11,795,000. WeRide comprises about 0.9% of Styrax Capital LP’s holdings, making the stock its 17th largest position.

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

Analysts Set New Price Targets

Several brokerages have recently commented on WRD. HSBC began coverage on shares of WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price target on the stock. BNP Paribas Exane assumed coverage on shares of WeRide in a research note on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target on the stock. Weiss Ratings lowered shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday. Seven equities 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. According to data from MarketBeat.com, WeRide has a consensus rating of “Moderate Buy” and a consensus target price of $12.48.

WeRide Trading Down 2.8%

WeRide stock opened at $6.30 on Wednesday. The company has a market capitalization of $1.96 billion, a P/E ratio of -8.40 and a beta of 1.77. The firm’s fifty day simple moving average is $7.43 and its 200-day simple moving average is $7.83. WeRide Inc. has a 1-year low of $6.01 and a 1-year high of $12.55.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.17) earnings per share for the quarter. The business had revenue of $16.55 million for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. On average, equities research analysts predict that WeRide Inc. will post -0.59 earnings per share for the current year.

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.