Waterdrop (NYSE:WDH) Trading Up 9.4% – Time to Buy?

Shares of Waterdrop Inc. Unsponsored ADR (NYSE:WDH) were up 9.4% on Monday . The stock traded as high as $1.79 and last traded at $1.8050. Approximately 33,147 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 293,529 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WDH shares. Weiss Ratings restated a “hold (c+)” rating on shares of Waterdrop in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Waterdrop from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group cut shares of Waterdrop from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a report on Monday, September 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Waterdrop currently has an average rating of “Hold” and a consensus target price of $2.00.

Waterdrop Trading Up 3.2%

The company has a market capitalization of $636.15 million, a price-to-earnings ratio of 10.32 and a beta of -0.25. The firm’s 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.66.

Waterdrop Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 10th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, October 10th. Waterdrop’s dividend payout ratio is currently 29.41%.

Institutional Trading of Waterdrop

Hedge funds have recently modified their holdings of the business. Sei Investments Co. acquired a new position in Waterdrop during the third quarter worth $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Waterdrop during the 3rd quarter worth $36,000. Marshall Wace LLP acquired a new position in shares of Waterdrop during the 2nd quarter worth $25,000. Centiva Capital LP purchased a new position in shares of Waterdrop in the 3rd quarter valued at about $59,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Waterdrop by 184.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 39,372 shares of the company’s stock valued at $74,000 after purchasing an additional 25,510 shares during the period. 1.96% of the stock is owned by institutional investors and hedge funds.

About Waterdrop

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.