Yuanbao (NASDAQ:YB) Stock Price Down 4.6% - Here's Why

Key Points

• Yuanbao Inc. shares dropped 4.6% to $24.20 during mid-day trading, with a significant decline in trading volume of 88% compared to the average.
• The company received a downgrade from Wall Street Zen, changing its rating from "buy" to "hold."
• Yuanbao reported earnings of $0.90 per share with a revenue of $149.36 million for the last quarter.

Yuanbao Inc. - Sponsored ADR (NASDAQ:YB - Get Free Report)'s share price was down 4.6% during mid-day trading on Monday . The company traded as low as $24.20 and last traded at $24.20. Approximately 10,852 shares changed hands during trading, a decline of 88% from the average daily volume of 90,076 shares. The stock had previously closed at $25.36.

Analysts Set New Price Targets

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

Yuanbao Stock Down 7.1%

The company's 50 day moving average is $26.40.

Yuanbao (NASDAQ:YB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.90 earnings per share (EPS) 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 added to or reduced their stakes in YB. WFM ASIA BVI Ltd bought a new position in Yuanbao in the 2nd quarter worth approximately $2,020,000. JPMorgan Chase & Co. bought a new position in Yuanbao in the 2nd quarter worth approximately $454,000. Finally, Federated Hermes Inc. bought a new position in Yuanbao in the 2nd quarter worth approximately $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.