Waterdrop (NYSE:WDH) Trading 3% Higher – Time to Buy?

Waterdrop Inc. Unsponsored ADR (NYSE:WDH)’s stock price rose 3% during mid-day trading on Friday . The stock traded as high as $1.86 and last traded at $1.8850. Approximately 46,779 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 310,738 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. The Goldman Sachs Group downgraded Waterdrop from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Waterdrop in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Waterdrop from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.00.

Waterdrop Stock Up 3.6%

The stock has a market capitalization of $686.90 million, a P/E ratio of 9.97 and a beta of -0.25. The company has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $1.72.

Waterdrop (NYSE:WDH) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.21). Waterdrop had a return on equity of 9.99% and a net margin of 15.58%.The business had revenue of $136.93 million during the quarter, compared to the consensus estimate of $859.05 million.

Hedge Funds Weigh In On Waterdrop

Large investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Waterdrop during the second quarter worth about $372,000. E Fund Management Co. Ltd. acquired a new position in Waterdrop during the second quarter worth $372,000. Invesco Ltd. bought a new position in Waterdrop in the second quarter valued at $156,000. GSA Capital Partners LLP increased its stake in Waterdrop by 91.0% in the 3rd quarter. GSA Capital Partners LLP now owns 46,065 shares of the company’s stock valued at $87,000 after buying an additional 21,953 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Waterdrop during the 3rd quarter worth about $80,000. Institutional investors own 1.96% of the company’s stock.

About Waterdrop

Waterdrop Inc (NYSE: WDH) is a China-based insurtech and health protection platform that leverages digital technology to connect consumers with insurance and healthcare services. Through its mobile app and online marketplace, Waterdrop offers a range of microinsurance and critical illness products designed to provide affordable coverage for everyday risks. The platform also features crowdfunding channels that enable users to contribute to medical expense relief for individuals facing serious health challenges.

Since its founding in 2016 and headquartered in Shanghai, Waterdrop has grown its partner network to include leading insurance carriers and medical institutions across mainland China.