Yuanbao Inc. - Sponsored ADR (NASDAQ:YB) Short Interest Down 51.4% in June

Key Points

• Short interest in Yuanbao Inc. fell sharply in June, dropping 51.4% to 16,160 shares as of June 30 from 33,226 shares on June 15. The stock’s days-to-cover ratio is now just 0.5 days, with essentially 0.0% of shares sold short.
• Yuanbao shares were trading near recent lows at $13.87, well below their 12-month high of $30.50 and under both the 50-day and 200-day moving averages. The company has a market cap of about $625 million and a low beta of 0.39.
• The company declared a large annual dividend of $1.26 per share, payable July 28 to shareholders of record on July 2. Analysts currently rate the stock a consensus Hold with a target price of $21.80.

Yuanbao Inc. - Sponsored ADR (NASDAQ:YB - Get Free Report) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 16,160 shares, a decrease of 51.4% from the June 15th total of 33,226 shares. Based on an average daily trading volume, of 31,633 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company's shares are sold short.

Yuanbao Stock Performance

Shares of NASDAQ YB traded up $0.04 during mid-day trading on Wednesday, reaching $13.87. The company had a trading volume of 8,688 shares, compared to its average volume of 47,431. Yuanbao has a twelve month low of $12.01 and a twelve month high of $30.50. The stock's 50 day moving average is $14.78 and its 200-day moving average is $17.63. The stock has a market capitalization of $625.03 million, a PE ratio of 3.35 and a beta of 0.39.

Yuanbao Announces Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $1.26 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a dividend yield of 839.0%. Yuanbao's dividend payout ratio (DPR) is 29.95%.

Institutional Investors Weigh In On Yuanbao

Several large investors have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new stake in Yuanbao in the second quarter valued at approximately $160,000. Royal Bank of Canada bought a new position in shares of Yuanbao during the 1st quarter valued at $72,000. Barclays PLC raised its holdings in shares of Yuanbao by 68.7% during the 4th quarter. Barclays PLC now owns 41,988 shares of the company's stock valued at $851,000 after purchasing an additional 17,105 shares in the last quarter. Franchise GP Ltd bought a new stake in Yuanbao in the fourth quarter worth $1,351,000. Finally, JPMorgan Chase & Co. boosted its holdings in Yuanbao by 53.7% in the third quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company's stock worth $653,000 after purchasing an additional 11,607 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on YB. Weiss Ratings lowered shares of Yuanbao from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, June 30th. Wall Street Zen lowered shares of Yuanbao from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.