Waterdrop Inc. Unsponsored ADR (NYSE:WDH) Short Interest Down 56.9% in September

Key Points

• Waterdrop Inc. saw a significant 56.9% decline in short interest in September, with the total short interest dropping from 155,600 shares to 67,100 shares.
• Analysts have downgraded Waterdrop from a "buy" to a "hold" rating, with a consensus target price now set at $2.00.
• The company declared a quarterly dividend of $0.03 per share, resulting in an annualized dividend yield of 6.7%, to be paid on November 7th.

Waterdrop Inc. Unsponsored ADR (NYSE:WDH - Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 67,100 shares, a decline of 56.9% from the September 15th total of 155,600 shares. Based on an average trading volume of 473,500 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 473,500 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

WDH has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut Waterdrop from a "buy" rating to a "neutral" rating and set a $2.00 target price on the stock. in a research report on Monday, September 29th. Wall Street Zen cut Waterdrop from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Waterdrop in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.00.

Institutional Trading of Waterdrop

Several hedge funds and other institutional investors have recently made changes to their positions in WDH. Marshall Wace LLP bought a new stake in shares of Waterdrop during the second quarter worth about $25,000. Invesco Ltd. bought a new stake in Waterdrop in the second quarter valued at approximately $156,000. E Fund Management Co. Ltd. bought a new stake in Waterdrop in the second quarter valued at approximately $372,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Waterdrop in the second quarter valued at approximately $372,000. Finally, Baader Bank Aktiengesellschaft boosted its holdings in Waterdrop by 28.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,660,910 shares of the company's stock valued at $2,475,000 after acquiring an additional 369,325 shares during the last quarter. 1.96% of the stock is currently owned by institutional investors.

Waterdrop Trading Up 0.3%

NYSE:WDH opened at $1.79 on Friday. The stock has a market cap of $647.03 million, a P/E ratio of 10.50 and a beta of -0.25. The stock's 50-day moving average is $1.85 and its 200-day moving average is $1.57. Waterdrop has a 1-year low of $0.97 and a 1-year high of $2.18.

Waterdrop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, October 10th. Waterdrop's payout ratio is 29.41%.

About Waterdrop

Waterdrop Inc, through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People's Republic of China. The company offers short-term health and long-term health and life insurance products and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.