Yuanbao (NASDAQ:YB) Shares Gap Up – Should You Buy?

Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) gapped up before the market opened on Thursday . The stock had previously closed at $12.37, but opened at $13.89. Yuanbao shares last traded at $14.4350, with a volume of 3,839 shares trading hands.

Analysts Set New Price Targets

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

Yuanbao Trading Up 3.7%

The company has a market cap of $632.70 million and a PE ratio of 3.63. The firm’s 50-day simple moving average is $16.68 and its two-hundred day simple moving average is $19.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new stake in shares of Yuanbao in the 1st quarter worth $72,000. Federated Hermes Inc. acquired a new stake in shares of Yuanbao in the 2nd quarter valued at $370,000. JPMorgan Chase & Co. bought a new stake in shares of Yuanbao during the second quarter worth $454,000. Barclays PLC boosted its holdings in Yuanbao by 68.7% in the fourth quarter. Barclays PLC now owns 41,988 shares of the company’s stock valued at $851,000 after acquiring an additional 17,105 shares during the last quarter. Finally, Franchise GP Ltd acquired 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.