Yuanbao (NASDAQ:YB) Trading 10.9% Higher – Time to Buy?

Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) traded up 10.9% on Wednesday . The company traded as high as $13.70 and last traded at $13.7150. 10,428 shares were traded during trading, a decline of 77% from the average session volume of 46,148 shares. The stock had previously closed at $12.37.

Analyst Upgrades and Downgrades

YB has been the topic of several analyst reports. Wall Street Zen downgraded Yuanbao from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup initiated coverage on Yuanbao in a report on Monday, February 23rd. They issued a “neutral” rating and a $21.80 price objective on the stock. Finally, Weiss Ratings downgraded Yuanbao from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.80.

Yuanbao Trading Up 11.4%

The company has a market cap of $621.43 million and a PE ratio of 3.56. The business has a fifty day moving average of $16.80 and a 200-day moving average of $19.06.

Hedge Funds Weigh In On Yuanbao

Institutional investors have recently modified their holdings of the stock. Franchise GP Ltd purchased a new position in shares of Yuanbao during the fourth quarter worth approximately $1,351,000. WFM ASIA BVI Ltd increased its position in shares of Yuanbao by 89.9% during the third quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company’s stock worth $3,584,000 after acquiring an additional 86,414 shares during the period. Federated Hermes Inc. purchased a new position in shares of Yuanbao during the second quarter worth approximately $370,000. JPMorgan Chase & Co. purchased a new position in Yuanbao during the second quarter valued at approximately $454,000. Finally, Royal Bank of Canada purchased a new position in Yuanbao during the first quarter valued at approximately $72,000.

Yuanbao Company Profile

Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine. Through this engine, we successfully distribute suitable and high-quality insurance products to over ten million insurance consumers. According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first year premiums in 2023.