Waterdrop (NYSE:WDH) Stock Rating Upgraded by Wall Street Zen

Key Points

• Waterdrop (NYSE:WDH) has been upgraded from a "hold" to a "buy" rating by investment analysts at Wall Street Zen.
• As of Friday, Waterdrop's stock opened at $1.85, reflecting a 12-month low of $0.97 and a high of $2.18, with a market cap of $668.78 million.
• Recently, several hedge funds, including E Fund Management Co. Ltd., have made new investments in Waterdrop, indicating increased institutional interest in the company.

Wall Street Zen upgraded shares of Waterdrop (NYSE:WDH - Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

Waterdrop Stock Down 1.6%

Shares of WDH stock traded down $0.03 during trading hours on Friday, hitting $1.87. 541,156 shares of the company were exchanged, compared to its average volume of 445,068. The firm has a market cap of $677.84 million, a PE ratio of 11.00 and a beta of -0.27. Waterdrop has a 1 year low of $0.97 and a 1 year high of $2.18. The firm has a fifty day moving average of $1.77 and a 200 day moving average of $1.50.

Waterdrop Dividend Announcement

The business also recently disclosed 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 6.4%. The ex-dividend date is Friday, October 10th. Waterdrop's dividend payout ratio is presently 17.65%.

Institutional Trading of Waterdrop

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Waterdrop in the second quarter valued at approximately $25,000. Jane Street Group LLC acquired a new position in Waterdrop during the fourth quarter valued at approximately $78,000. Invesco Ltd. acquired a new position in Waterdrop during the second quarter valued at approximately $156,000. E Fund Management Co. Ltd. acquired a new position in Waterdrop during the second quarter valued at approximately $372,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Waterdrop during the second quarter valued at approximately $372,000. 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.