Waterdrop (NYSE:WDH) Shares Down 3.4% - Here's What Happened

Waterdrop Inc. Unsponsored ADR (NYSE:WDH - Get Free Report) shares dropped 3.4% during trading on Tuesday . The stock traded as low as $1.39 and last traded at $1.40. Approximately 127,253 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 216,618 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Waterdrop from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.

Waterdrop Stock Performance

The business has a 50 day moving average of $1.36 and a 200-day moving average of $1.29. The company has a market capitalization of $483.91 million, a P/E ratio of 8.90 and a beta of -0.29.

Hedge Funds Weigh In On Waterdrop

Large investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in Waterdrop during the fourth quarter worth about $78,000. Baader Bank Aktiengesellschaft grew its holdings 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 worth $2,475,000 after purchasing an additional 369,325 shares in the last quarter. Finally, IDG China Capital Fund III Associates L.P. bought a new position in shares of Waterdrop in the fourth quarter worth approximately $6,760,000. 1.96% of the stock is currently owned by institutional investors.

Waterdrop Company Profile

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.