Waterdrop (NYSE:WDH) Stock Price Down 5.6% - What's Next?

Key Points

• Waterdrop Inc. (NYSE: WDH) experienced a 5.6% decline in its share price during trading, dropping to $1.67 from a previous close of $1.77.
• Wall Street analysts have downgraded Waterdrop's rating from "buy" to "hold", indicating a more cautious outlook on the company's performance.
• Institutional investments are fluctuating, with Jane Street Group acquiring a new stake worth about $78,000, while Baader Bank raised its holdings by 28.6% to over $2.4 million.

Waterdrop Inc. Unsponsored ADR (NYSE:WDH - Get Free Report)'s share price dropped 5.6% during trading on Wednesday . The stock traded as low as $1.60 and last traded at $1.67. Approximately 355,599 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 257,561 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Waterdrop from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Waterdrop Stock Performance

The firm has a market capitalization of $598.09 million, a price-to-earnings ratio of 11.00 and a beta of -0.28. The company has a 50 day moving average price of $1.49 and a two-hundred day moving average price of $1.37.

Hedge Funds Weigh In On Waterdrop

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Waterdrop in the 4th quarter valued at about $78,000. Baader Bank Aktiengesellschaft boosted its stake in shares of Waterdrop by 28.6% in the 1st 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 period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Waterdrop in the 2nd quarter valued at about $372,000. 1.96% of the stock is currently owned by hedge funds and other 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.