Yuanbao (NASDAQ:YB) Shares Up 6.7% - Should You Buy?

Key Points

• Yuanbao Inc.'s shares increased by 6.7%, reaching a last trading price of $28.95, although trading volume was down by 41% from its average.
• Wall Street analysts downgraded Yuanbao from a "buy" rating to a "hold," indicating a more cautious outlook for the stock.
• Recent institutional investments included WFM ASIA BVI Ltd acquiring a $2 million position in Yuanbao, signaling interest from hedge funds.

Yuanbao Inc. - Sponsored ADR (NASDAQ:YB - Get Free Report)'s share price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $30.33 and last traded at $28.95. 54,311 shares traded hands during trading, a decline of 41% from the average session volume of 92,700 shares. The stock had previously closed at $27.13.

Wall Street Analysts Forecast Growth

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

Yuanbao Trading Up 2.9%

The company has a fifty day simple moving average of $25.32.

Yuanbao (NASDAQ:YB - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.89 earnings per share (EPS) for the quarter. The firm had revenue of $133.68 million for the quarter.

Hedge Funds Weigh In On Yuanbao

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

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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