Waterdrop (NYSE:WDH) Stock Rating Upgraded by Wall Street Zen

Waterdrop (NYSE:WDH) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings lowered shares of Waterdrop from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.00.

Waterdrop Trading Up 1.4%

WDH stock opened at $1.12 on Friday. Waterdrop has a twelve month low of $1.08 and a twelve month high of $2.18. The company’s 50 day moving average is $1.49 and its two-hundred day moving average is $1.67. The stock has a market cap of $405.99 million, a P/E ratio of 5.36 and a beta of -0.18.

Waterdrop (NYSE:WDH) last issued its earnings results on Wednesday, June 17th. The company reported $0.04 earnings per share (EPS) for the quarter. Waterdrop had a net margin of 12.47% and a return on equity of 10.87%. The business had revenue of $180.17 million during the quarter.

Hedge Funds Weigh In On Waterdrop

Institutional investors have recently modified their holdings of the business. Invesco Ltd. purchased a new stake in shares of Waterdrop in the second quarter valued at about $156,000. Marshall Wace LLP purchased a new position in Waterdrop during the second quarter worth about $25,000. E Fund Management Co. Ltd. purchased a new position in Waterdrop during the second quarter worth about $372,000. GSA Capital Partners LLP lifted its holdings in shares of 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 period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Waterdrop during the 3rd quarter worth $36,000. 1.96% of the stock is owned by institutional investors and hedge funds.

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.