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

Shares of Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) gapped up prior to trading on Wednesday . The stock had previously closed at $14.57, but opened at $16.97. Yuanbao shares last traded at $16.5310, with a volume of 51,746 shares trading hands.

Wall Street Analyst Weigh In

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

Yuanbao Stock Up 16.6%

The firm’s 50-day moving average is $16.13 and its 200-day moving average is $18.60. The company has a market cap of $765.68 million, a PE ratio of 4.39 and a beta of 0.46.

Yuanbao (NASDAQ:YB) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $1.17 earnings per share (EPS) for the quarter. Yuanbao had a net margin of 29.89% and a return on equity of 68.51%. The company had revenue of $190.85 million for the quarter.

Institutional Investors Weigh In On Yuanbao

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YB. JPMorgan Chase & Co. purchased a new stake in Yuanbao in the second quarter worth $454,000. Federated Hermes Inc. purchased a new stake in Yuanbao in the second quarter worth about $370,000. WFM ASIA BVI Ltd grew its holdings in Yuanbao by 89.9% in the third quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company’s stock worth $3,584,000 after purchasing an additional 86,414 shares during the period. Susquehanna International Group LLP purchased a new stake in Yuanbao in the third quarter worth about $59,613,000. Finally, Franchise GP Ltd purchased a new stake in Yuanbao in the fourth quarter worth about $1,351,000.

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.