WeRide Target of Unusually Large Options Trading (NASDAQ:WRD)

WeRide Inc. (NASDAQ:WRD) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 17,668 call options on the company. This represents an increase of approximately 137% compared to the average daily volume of 7,467 call options.

WeRide Price Performance

NASDAQ WRD traded up $0.49 during trading hours on Tuesday, reaching $7.98. 9,644,204 shares of the company’s stock were exchanged, compared to its average volume of 7,812,055. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.10 and a current ratio of 13.60. The business’s 50-day moving average price is $8.53. WeRide has a one year low of $6.03 and a one year high of $44.00.

WeRide (NASDAQ:WRD) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.18) EPS for the quarter. The company had revenue of $9.98 million for the quarter. Analysts anticipate that WeRide will post -0.68 earnings per share for the current fiscal year.

WeRide declared that its board has authorized a stock repurchase program on Wednesday, May 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a research note on Sunday, June 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WRD. NewEdge Advisors LLC bought a new stake in WeRide in the 1st quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of WeRide in the first quarter valued at approximately $56,000. OLD Mission Capital LLC bought a new stake in shares of WeRide in the first quarter worth $182,000. Concurrent Investment Advisors LLC acquired a new position in WeRide during the first quarter worth $201,000. Finally, Virtu Financial LLC bought a new position in WeRide in the first quarter valued at $723,000.

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.