Yuanbao (NASDAQ:YB) Shares Up 5.2% – Time to Buy?

Shares of Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) shot up 5.2% during trading on Tuesday . The stock traded as high as $15.09 and last traded at $15.06. 11,243 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 46,015 shares. The stock had previously closed at $14.31.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on YB. Citigroup initiated coverage on Yuanbao in a research report on Monday, February 23rd. They issued a “neutral” rating and a $21.80 target price on the stock. Weiss Ratings cut Yuanbao from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Yuanbao from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Yuanbao has an average rating of “Hold” and an average target price of $21.80.

Yuanbao Stock Performance

The stock has a market capitalization of $649.15 million and a PE ratio of 3.72. The firm’s 50 day moving average is $17.56 and its two-hundred day moving average is $19.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new position in Yuanbao during the 1st quarter worth $72,000. Federated Hermes Inc. purchased a new position in shares of Yuanbao in the 2nd quarter valued at about $370,000. JPMorgan Chase & Co. acquired a new position in shares of Yuanbao during the second quarter worth about $454,000. Barclays PLC increased its stake in shares of Yuanbao by 68.7% during the fourth quarter. Barclays PLC now owns 41,988 shares of the company’s stock worth $851,000 after buying an additional 17,105 shares during the period. Finally, Franchise GP Ltd acquired a new stake in Yuanbao in the fourth quarter valued at approximately $1,351,000.

About Yuanbao

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.