WeRide (NASDAQ:WRD) Rating Lowered to Sell at Wall Street Zen

WeRide (NASDAQ:WRD) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

WeRide Trading Up 0.8%

WRD opened at $8.82 on Friday. The stock has a fifty day moving average price of $9.09. WeRide has a twelve month low of $6.03 and a twelve month 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. Research analysts predict that WeRide will post -0.68 earnings per share for the current year.

WeRide announced that its Board of Directors has approved a share repurchase program on Wednesday, May 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors 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 acquired a new stake in shares of WeRide during the first quarter worth $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of WeRide during the first quarter worth $56,000. OLD Mission Capital LLC acquired a new stake in shares of WeRide during the first quarter worth $182,000. Concurrent Investment Advisors LLC acquired a new stake in shares of WeRide during the first quarter worth $201,000. Finally, Virtu Financial LLC acquired a new stake in shares of WeRide during the first quarter worth $723,000.

WeRide Company Profile

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.