Waterdrop (NYSE:WDH) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Waterdrop from “hold” to “buy,” but Weiss Ratings downgraded the stock to “sell.” MarketBeat reports the overall analyst consensus remains “Sell.”
• Waterdrop shares opened at $1.00, near their 52-week low of $0.96, with a market capitalization of approximately $362.7 million. The company reported quarterly revenue of $213.16 million and earnings of $0.05 per share.
• Renaissance Technologies recently purchased 57,957 Waterdrop shares valued at roughly $94,000; institutional investors collectively own 1.96% of the company.

Waterdrop (NYSE:WDH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut Waterdrop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Waterdrop currently has an average rating of "Sell".

Waterdrop Stock Performance

Shares of NYSE WDH opened at $1.00 on Friday. The company's fifty day moving average price is $1.02 and its 200 day moving average price is $1.38. Waterdrop has a 1 year low of $0.96 and a 1 year high of $2.03. The company has a market capitalization of $362.69 million, a PE ratio of 4.79 and a beta of -0.24.

Waterdrop (NYSE:WDH - Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.05 EPS for the quarter. Waterdrop had a net margin of 10.69% and a return on equity of 10.47%. The company had revenue of $213.16 million for the quarter.

Hedge Funds Weigh In On Waterdrop

An institutional investor recently bought a new stake in Waterdrop stock. Renaissance Technologies LLC purchased a new position in shares of Waterdrop Inc. Unsponsored ADR (NYSE:WDH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,957 shares of the company's stock, valued at approximately $94,000. Institutional investors and hedge funds own 1.96% of the company's stock.

About Waterdrop

Waterdrop Inc is a technology platform focused on insurance services and healthcare support in China. Through its online insurance marketplace, the company helps consumers compare and purchase insurance products, while providing insurers with digital distribution and customer-engagement services.

The company also operates Waterdrop Crowdfunding, an online medical expense fundraising platform intended to help individuals and families seek financial assistance for treatment-related costs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.