Waterdrop (NYSE:WDH) Sets New 52-Week High – Time to Buy?

Waterdrop Inc. Unsponsored ADR (NYSE:WDH)’s stock price hit a new 52-week high on Friday . The stock traded as high as $1.95 and last traded at $1.69, with a volume of 2678354 shares changing hands. The stock had previously closed at $1.45.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Waterdrop from a “hold” rating to a “buy” rating in a research report on Friday, June 27th.

Waterdrop Price Performance

The firm’s 50-day moving average is $1.41 and its 200-day moving average is $1.32. The company has a market capitalization of $606.79 million, a P/E ratio of 11.16 and a beta of -0.30.

Hedge Funds Weigh In On Waterdrop

An institutional investor recently raised its position in Waterdrop stock. Baader Bank Aktiengesellschaft raised its stake in shares of Waterdrop Inc. Unsponsored ADR (NYSE:WDH) by 28.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,660,910 shares of the company’s stock after purchasing an additional 369,325 shares during the period. Baader Bank Aktiengesellschaft owned 0.45% of Waterdrop worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.