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)'s share price 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.

Wall Street Analyst Weigh In

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

Yuanbao Stock Up 2.5%

The firm has a 50 day simple moving average of $26.42.

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

Hedge Funds Weigh In On Yuanbao

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. bought a new position in Yuanbao in the 2nd quarter worth $370,000. JPMorgan Chase & Co. bought a new stake in Yuanbao during the second quarter valued at about $454,000. Finally, WFM ASIA BVI Ltd bought a new stake in Yuanbao during the second quarter valued at about $2,020,000.

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.

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