Waterdrop (NYSE:WDH) Trading Up 2.7%

Shares of Waterdrop Inc. (NYSE:WDHGet Rating) rose 2.7% during mid-day trading on Friday . The stock traded as high as $3.06 and last traded at $3.01. Approximately 363,670 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 787,433 shares. The stock had previously closed at $2.93.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their price target on shares of Waterdrop from $2.70 to $3.30 and gave the company a “buy” rating in a research note on Wednesday, December 7th.

Waterdrop Trading Up 3.8 %

The firm’s 50 day simple moving average is $3.03 and its 200-day simple moving average is $2.15. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 5.18 and a beta of -0.99.

Institutional Investors Weigh In On Waterdrop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in shares of Waterdrop by 0.5% during the 4th quarter. Morgan Stanley now owns 3,164,998 shares of the company’s stock worth $10,539,000 after purchasing an additional 14,182 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Waterdrop by 175.8% during the 2nd quarter. Renaissance Technologies LLC now owns 74,200 shares of the company’s stock worth $95,000 after purchasing an additional 47,300 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Waterdrop during the 4th quarter worth about $58,000. Finally, Bank of America Corp DE increased its stake in shares of Waterdrop by 239.9% during the 4th quarter. Bank of America Corp DE now owns 8,497 shares of the company’s stock worth $28,000 after purchasing an additional 5,997 shares during the last quarter. 0.14% of the stock is currently owned by institutional investors and hedge funds.

About Waterdrop

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for Waterdrop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waterdrop and related companies with MarketBeat.com's FREE daily email newsletter.