Waterdrop (NYSE:WDH) Stock Price Down 4.1% - Here's Why

Shares of Waterdrop Inc. (NYSE:WDH - Get Free Report) dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $1.40 and last traded at $1.41. Approximately 43,533 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 229,117 shares. The stock had previously closed at $1.47.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Waterdrop from a "hold" rating to a "buy" rating in a research note on Friday, May 30th.

Waterdrop Stock Down 4.0%

The firm has a 50 day simple moving average of $1.35 and a two-hundred day simple moving average of $1.28. The stock has a market capitalization of $480.28 million, a P/E ratio of 11.04 and a beta of -0.29.

Institutional Investors Weigh In On Waterdrop

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDH. Jane Street Group LLC bought a new stake in Waterdrop during the fourth quarter worth $78,000. Baader Bank Aktiengesellschaft increased 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 buying an additional 369,325 shares in the last quarter. Finally, IDG China Capital Fund III Associates L.P. acquired a new position in shares of Waterdrop during the fourth quarter worth $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.