WeRide (NASDAQ:WRD) Coverage Initiated at Bank of America
Bank of America initiated coverage on WeRide (NASDAQ:WRD) with a "buy" rating and a $12.00 target price, indicating a potential 45.90% upside. Other analysts, including UBS and Citigroup, also rated it as a "buy," while Weiss Ratings gave a "sell" rating. WeRide's stock opened at $8.23, with a market cap of $2.66 billion. The company, specializing in autonomous driving technology, reported a quarterly revenue of $24.02 million and a negative EPS of ($0.15). Institutional investors have recently adjusted their positions in WeRide.
Stock analysts at Bank of America initiated coverage on shares of WeRide (NASDAQ:WRD - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. Bank of America's price objective would indicate a potential upside of 45.90% from the company's current price.
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Several other brokerages have also issued reports on WRD. UBS Group initiated coverage on WeRide in a report on Monday, August 4th. They set a "buy" rating and a $12.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of WeRide in a research note on Tuesday, November 25th. Finally, Citigroup started coverage on WeRide in a report on Monday, September 29th. They set a "buy" rating and a $15.50 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, WeRide has an average rating of "Moderate Buy" and a consensus target price of $13.17.
View Our Latest Stock Analysis on WeRide
WeRide Stock Up 2.3%
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NASDAQ:WRD opened at $8.23 on Monday. The stock has a fifty day simple moving average of $9.70 and a 200 day simple moving average of $9.32. WeRide has a 1-year low of $6.03 and a 1-year high of $44.00. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -9.79 and a beta of 4.45.
WeRide (NASDAQ:WRD - Get Free Report) last announced its earnings results on Monday, November 24th. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $24.02 million for the quarter. WeRide had a negative net margin of 329.54% and a negative return on equity of 24.31%. Equities analysts predict that WeRide will post -0.68 earnings per share for the current year.
Institutional Investors Weigh In On WeRide
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A number of institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of WeRide in the 1st quarter valued at about $27,000. SBI Securities Co. Ltd. grew its stake in WeRide by 1,263.6% in the second quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company's stock valued at $28,000 after acquiring an additional 3,298 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of WeRide in the 2nd quarter valued at approximately $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of WeRide during the first quarter worth $56,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of WeRide in the 2nd quarter valued at about $79,000.
WeRide Company Profile
(Get Free Report)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.
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