Wall Street Zen Upgrades Waterdrop (NYSE:WDH) to Buy

Key Points

• Wall Street Zen upgraded Waterdrop (NYSE: WDH) from a "hold" to a "buy" in a research note issued Saturday.
• Waterdrop reported stronger-than-expected results, with Q1 EPS of $0.06 versus $0.04 consensus and revenue of $201.71 million versus $117.69 million expected.
• The stock opened at $1.63 and was trading down ~3.3%, with a market cap of about $589 million and only ~1.96% institutional ownership.

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 report issued on Saturday.

Waterdrop Trading Down 3.3%

Shares of NYSE WDH opened at $1.63 on Friday. Waterdrop has a 1-year low of $1.24 and a 1-year high of $2.18. The company has a market cap of $589.03 million, a PE ratio of 7.74 and a beta of -0.16. The company has a 50-day moving average of $1.71 and a two-hundred day moving average of $1.75.

Waterdrop (NYSE:WDH - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. Waterdrop had a net margin of 14.28% and a return on equity of 11.34%. The company had revenue of $201.71 million during the quarter, compared to the consensus estimate of $117.69 million.

Institutional Investors Weigh In On Waterdrop

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. bought a new stake in shares of Waterdrop during the third quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new stake in shares of Waterdrop during the third quarter worth approximately $36,000. Marshall Wace LLP bought a new stake in shares of Waterdrop during the second quarter worth approximately $25,000. GSA Capital Partners LLP raised its stake in shares of Waterdrop by 91.0% during the third quarter. GSA Capital Partners LLP now owns 46,065 shares of the company's stock worth $87,000 after buying an additional 21,953 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Waterdrop by 184.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 39,372 shares of the company's stock worth $74,000 after buying an additional 25,510 shares during the last quarter. 1.96% of the stock is owned by institutional investors.

Waterdrop Company Profile

Waterdrop Inc NYSE: WDH is a China-based insurtech and health protection platform that leverages digital technology to connect consumers with insurance and healthcare services. Through its mobile app and online marketplace, Waterdrop offers a range of microinsurance and critical illness products designed to provide affordable coverage for everyday risks. The platform also features crowdfunding channels that enable users to contribute to medical expense relief for individuals facing serious health challenges.

Since its founding in 2016 and headquartered in Shanghai, Waterdrop has grown its partner network to include leading insurance carriers and medical institutions across mainland China.

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