WeRide (NASDAQ:WRD) Research Coverage Started at BNP Paribas Exane
by Tristan Rich · The Markets DailyBNP Paribas Exane assumed coverage on shares of WeRide (NASDAQ:WRD – Free Report) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $11.00 price target on the stock.
A number of other research firms have also recently issued reports on WRD. Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th. Bank of America began coverage on shares of WeRide in a report on Monday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. Zacks Research upgraded shares of WeRide from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd. CLSA began coverage on WeRide in a report on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a research report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.70.
View Our Latest Stock Report on WRD
WeRide Trading Down 9.0%
WRD opened at $6.95 on Thursday. WeRide has a 1-year low of $6.01 and a 1-year high of $15.60. The stock’s fifty day simple moving average is $7.40 and its 200 day simple moving average is $8.76. The stock has a market cap of $2.25 billion, a PE ratio of -9.27 and a beta of 4.36.
WeRide (NASDAQ:WRD – Get Free Report) last released its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The company had revenue of $44.88 million for the quarter. Equities analysts forecast that WeRide will post -0.68 earnings per share for the current year.
Hedge Funds Weigh In On WeRide
A number of hedge funds have recently bought and sold shares of the business. China UAE Investment Cooperation Fund L.P. bought a new stake in WeRide in the 4th quarter valued at about $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of WeRide by 55.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock worth $45,770,000 after purchasing an additional 1,645,769 shares during the period. FengHe Fund Management Pte. Ltd. raised its position in shares of WeRide by 198.5% in the fourth 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. Temasek Holdings Private Ltd raised its position in shares of WeRide by 119.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock valued at $25,856,000 after buying an additional 1,623,156 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of WeRide by 89.2% in the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock valued at $24,027,000 after buying an additional 1,305,321 shares during the period.
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.