WeRide (NASDAQ:WRD) Reaches New 1-Year Low – Time to Sell?

WeRide Inc. (NASDAQ:WRD)’s share price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.03 and last traded at $4.1850, with a volume of 400,323 shares trading hands. The stock had previously closed at $4.27.

Analyst Upgrades and Downgrades

WRD has been the topic of several recent research reports. Barclays started coverage on shares of WeRide in a research note on Thursday. They issued an “equal weight” rating and a $4.00 target price on the stock. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Wall Street Zen lowered shares of WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of WeRide in a research note on Wednesday, August 19th. Finally, Bank of America reaffirmed a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WeRide has a consensus rating of “Moderate Buy” and an average target price of $10.35.

WeRide Trading Down 2.0%

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00. The business has a 50 day moving average of $5.46 and a 200 day moving average of $6.28. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.58 and a beta of 1.90.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The company had revenue of $34.11 million during the quarter. As a group, research analysts predict that WeRide Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Trading of WeRide

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Green Alpha Advisors LLC acquired a new stake in shares of WeRide in the 3rd quarter valued at approximately $421,000. Squarepoint Ops LLC bought a new position in WeRide during the 2nd quarter worth approximately $517,000. Nykredit A S acquired a new position in WeRide during the second quarter valued at approximately $57,000. Concurrent Investment Advisors LLC grew its holdings in WeRide by 31.2% during the second quarter. Concurrent Investment Advisors LLC now owns 46,300 shares of the company’s stock valued at $269,000 after purchasing an additional 11,000 shares during the period. Finally, Headlands Technologies LLC grew its holdings in WeRide by 586.3% during the second quarter. Headlands Technologies LLC now owns 104,585 shares of the company’s stock valued at $609,000 after purchasing an additional 89,347 shares during the period.

WeRide Company Profile

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.