Yuanbao (NASDAQ:YB) Shares Gap Up - Here's What Happened

Key Points

• Yuanbao Inc.'s shares opened at $24.56 after closing at $23.56, indicating a **gap up** before the market opened.
• Wall Street Zen downgraded Yuanbao from a **"buy"** rating to a **"hold"** rating, reflecting a cautious outlook on the company's stock.
• Institutional investors have shown interest, with Federated Hermes Inc. and JPMorgan Chase & Co. purchasing new stakes in **Yuanbao** during the second quarter.

Yuanbao Inc. - Sponsored ADR (NASDAQ:YB - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $23.56, but opened at $24.56. Yuanbao shares last traded at $24.00, with a volume of 5,953 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Yuanbao from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th.

Yuanbao Stock Down 1.6%

The business's 50 day moving average price is $26.01.

Yuanbao (NASDAQ:YB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.90 earnings per share for the quarter. The company had revenue of $149.36 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in shares of Yuanbao during the second quarter worth about $370,000. JPMorgan Chase & Co. purchased a new stake in Yuanbao in the second quarter worth approximately $454,000. Finally, WFM ASIA BVI Ltd purchased a new stake in Yuanbao in the second quarter worth approximately $2,020,000.

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.