Waterdrop (NYSE:WDH) Cut to Hold at Wall Street Zen

Key Points

• Waterdrop has been downgraded from a "buy" to a "hold" rating by investment analysts at Wall Street Zen.
• Goldman Sachs also reduced its rating on Waterdrop to "neutral" with a price target of $2.00.
• Waterdrop's recent stock performance shows a 12-month high of $2.18 and a low of $0.97, with current trading around $1.94.

Waterdrop (NYSE:WDH - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

A number of other research firms have also recently issued reports on WDH. The Goldman Sachs Group cut Waterdrop from a "buy" rating to a "neutral" rating and set a $2.00 price objective for the company. in a research report on Monday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Waterdrop in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Waterdrop has an average rating of "Hold" and an average target price of $2.00.

Waterdrop Stock Performance

NYSE WDH traded up $0.05 during trading on Friday, hitting $1.94. The stock had a trading volume of 929,280 shares, compared to its average volume of 561,265. The company's 50-day moving average price is $1.82 and its two-hundred day moving average price is $1.54. Waterdrop has a 12 month low of $0.97 and a 12 month high of $2.18. The company has a market capitalization of $701.40 million, a PE ratio of 11.38 and a beta of -0.25.

Institutional Investors Weigh In On Waterdrop

A number of institutional investors and hedge funds have recently made changes to their positions in WDH. Baader Bank Aktiengesellschaft grew its stake in shares of Waterdrop by 28.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 1,660,910 shares of the company's stock valued at $2,475,000 after buying an additional 369,325 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Waterdrop during the second quarter valued at approximately $372,000. E Fund Management Co. Ltd. purchased a new position in Waterdrop in the 2nd quarter worth approximately $372,000. Invesco Ltd. bought a new stake in Waterdrop in the 2nd quarter worth approximately $156,000. Finally, Jane Street Group LLC bought a new stake in shares of Waterdrop during the 4th quarter valued at $78,000. Hedge funds and other institutional investors own 1.96% of the company's stock.

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.

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