Weiss Ratings Reiterates Hold (C+) Rating for Waterdrop (NYSE:WDH)

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for Waterdrop (NYSE: WDH), indicating a neutral outlook on the stock.
• Other research firms have also downgraded Waterdrop, with Wall Street Zen and Goldman Sachs adjusting their ratings to "Hold" and "Neutral" respectively, with a price target of $2.00.
• Waterdrop's stock price decreased to $1.92, with shares experiencing a trading volume of 214,951 compared to an average of 301,503.

Waterdrop (NYSE:WDH - Get Free Report)'s stock had its "hold (c+)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently weighed in on WDH. Wall Street Zen cut Waterdrop from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. The Goldman Sachs Group lowered Waterdrop from a "buy" rating to a "neutral" rating and set a $2.00 price objective on the stock. in a research report on Monday, September 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $2.00.

Waterdrop Stock Performance

Shares of NYSE WDH traded down $0.02 during mid-day trading on Wednesday, hitting $1.92. The stock had a trading volume of 214,951 shares, compared to its average volume of 301,503. The business has a 50 day moving average price of $1.83 and a two-hundred day moving average price of $1.55. Waterdrop has a 1 year low of $0.97 and a 1 year high of $2.18. The firm has a market cap of $694.15 million, a P/E ratio of 11.27 and a beta of -0.25.

Hedge Funds Weigh In On Waterdrop

Several hedge funds and other institutional investors have recently bought and sold shares of WDH. Baader Bank Aktiengesellschaft lifted its stake in Waterdrop by 28.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 1,660,910 shares of the company's stock valued at $2,475,000 after acquiring an additional 369,325 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Waterdrop in the second quarter worth approximately $372,000. Invesco Ltd. bought a new stake in Waterdrop during the second quarter valued at approximately $156,000. Marshall Wace LLP bought a new stake in Waterdrop during the second quarter valued at approximately $25,000. Finally, E Fund Management Co. Ltd. bought a new stake in Waterdrop during the second quarter valued at approximately $372,000. Institutional investors own 1.96% of the company's stock.

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.

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