WeRide Inc. (NASDAQ:WRD) Receives Average Recommendation of “Moderate Buy” from Brokerages

WeRide Inc. (NASDAQ:WRD) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.1250.

A number of brokerages have recently issued reports on WRD. Bank of America initiated coverage on shares of WeRide in a research report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective for the company. CLSA initiated coverage on WeRide in a report on Monday, January 5th. They set an “outperform” rating and a $13.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WRD. China UAE Investment Cooperation Fund L.P. bought a new stake in shares of WeRide in the fourth quarter worth about $67,443,000. Robert Bosch GmbH purchased a new position in WeRide during the 2nd quarter valued at approximately $32,424,000. FengHe Fund Management Pte. Ltd. grew its holdings in WeRide by 198.5% during 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 in the last quarter. Greenwoods Asset Management Hong Kong Ltd. bought a new stake in WeRide in the 3rd quarter worth approximately $26,574,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of WeRide during the 3rd quarter worth approximately $25,931,000.

WeRide Trading Down 3.7%

WRD opened at $6.73 on Tuesday. The company’s 50 day moving average is $8.32 and its 200 day moving average is $9.11. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -8.01 and a beta of 4.35. WeRide has a 12-month low of $6.03 and a 12-month high of $20.50.

WeRide Company Profile

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.