WeRide (NASDAQ:WRD) Now Covered by Citigroup

Research analysts at Citigroup started coverage on shares of WeRide (NASDAQ:WRD) in a report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating on the stock.

Several other brokerages also recently issued reports on WRD. UBS Group began coverage on shares of WeRide in a research note on Monday, August 4th. They issued a “buy” rating and a $12.00 target price for the company. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $13.75.

WeRide Stock Down 5.0%

NASDAQ WRD opened at $9.90 on Monday. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $9.73 and its two-hundred day moving average is $9.70. The company has a market capitalization of $2.86 billion and a price-to-earnings ratio of -3.55. WeRide has a 1-year low of $6.03 and a 1-year high of $44.00.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%.The company had revenue of $17.75 million during the quarter. Equities analysts forecast that WeRide will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of WeRide

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in WeRide during the 1st quarter worth approximately $27,000. SBI Securities Co. Ltd. increased its holdings in shares of WeRide by 1,263.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock worth $28,000 after buying an additional 3,298 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of WeRide in the 2nd quarter worth $30,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of WeRide in the 1st quarter worth $56,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of WeRide in the 2nd quarter worth $79,000.

About WeRide

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.