Citigroup initiated coverage on shares of WeRide (NASDAQ:WRD – Free Report) in a research report released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $15.50 target price on the stock.
WRD has been the topic of a number of other reports. Wall Street Zen raised shares of WeRide from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. UBS Group began coverage on shares of WeRide in a report on Monday, August 4th. They set a “buy” rating and a $12.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.75.
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WeRide Price Performance
WRD opened at $10.32 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.03 and a quick ratio of 10.55. The company has a market capitalization of $2.99 billion and a price-to-earnings ratio of -3.70. The firm’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $9.70. WeRide has a 1 year low of $6.03 and a 1 year high of $44.00.
WeRide (NASDAQ:WRD – Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $17.75 million for the quarter. WeRide had a negative return on equity of 49.03% and a negative net margin of 595.64%. As a group, analysts anticipate that WeRide will post -0.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On WeRide
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new stake in WeRide in the 1st quarter valued at about $27,000. SBI Securities Co. Ltd. raised its stake in WeRide by 1,263.6% in the 2nd 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. bought a new stake in WeRide in the 2nd quarter valued at about $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in WeRide in the 1st quarter valued at about $56,000. Finally, Levin Capital Strategies L.P. bought a new stake in WeRide in the 2nd quarter valued at about $79,000.
About WeRide
(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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