Yuanbao (NASDAQ:YB) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Yuanbao (NASDAQ:YB) from a buy rating to a hold rating in a research note released on Saturday.

Several other research firms have also weighed in on YB. Weiss Ratings restated a “hold (c)” rating on shares of Yuanbao in a report on Friday, March 27th. Citigroup assumed coverage on Yuanbao in a report on Monday, February 23rd. They set a “neutral” rating and a $21.80 price target on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.80.

Yuanbao Stock Performance

NASDAQ:YB opened at $15.81 on Friday. The stock’s fifty day moving average is $18.09 and its 200 day moving average is $19.76. Yuanbao has a fifty-two week low of $14.04 and a fifty-two week high of $31.00. The firm has a market capitalization of $712.71 million and a PE ratio of 4.09.

Institutional Investors Weigh In On Yuanbao

Several hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Yuanbao by 68.7% in the 4th 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. Franchise GP Ltd purchased a new stake in shares of Yuanbao in the 4th quarter worth $1,351,000. JPMorgan Chase & Co. lifted its holdings in shares of Yuanbao by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock worth $653,000 after buying an additional 11,607 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Yuanbao in the 3rd quarter worth $59,613,000. Finally, WFM ASIA BVI Ltd lifted its holdings in shares of Yuanbao by 89.9% in the 3rd quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company’s stock worth $3,584,000 after buying an additional 86,414 shares during the period.

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.