Waterdrop (NYSE:WDH) Trading 2.7% Higher

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their target price 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 company’s 50 day simple moving average is $3.03 and its 200-day simple moving average is $2.15. The firm has a market cap of $11.98 billion, a P/E ratio of 20.27, a PEG ratio of 5.18 and a beta of -0.99.

Hedge Funds Weigh In On Waterdrop

Several institutional investors have recently made changes to their positions in WDH. Renaissance Technologies LLC lifted its stake in shares of Waterdrop by 175.8% in 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 period. Squarepoint Ops LLC bought a new position in shares of Waterdrop in the 4th quarter worth approximately $58,000. Morgan Stanley increased its holdings in Waterdrop by 0.5% in the 4th quarter. Morgan Stanley now owns 3,164,998 shares of the company’s stock worth $10,539,000 after acquiring an additional 14,182 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Waterdrop by 239.9% in the 4th quarter. Bank of America Corp DE now owns 8,497 shares of the company’s stock worth $28,000 after acquiring an additional 5,997 shares in the last quarter. Institutional investors own 0.14% of the company’s stock.

Waterdrop Company Profile

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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.