Yuanbao Inc. – Sponsored ADR (NASDAQ:YB – Get Free Report)’s share price shot up 3.1% during trading on Thursday . The stock traded as high as $14.00 and last traded at $13.8550. Approximately 19,280 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 41,592 shares. The stock had previously closed at $13.44.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Yuanbao from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.80.
Read Our Latest Analysis on YB
Yuanbao Stock Performance
Yuanbao (NASDAQ:YB – Get Free Report) last released its quarterly earnings results on Friday, September 11th. The company reported $1.26 EPS for the quarter. Yuanbao had a return on equity of 44.37% and a net margin of 29.67%.The company had revenue of $204.92 million for the quarter.
Institutional Trading of Yuanbao
Institutional investors and hedge funds have recently bought and sold shares of the business. Ramsey Quantitative Systems acquired a new stake in Yuanbao during the 2nd quarter worth $160,000. Royal Bank of Canada purchased a new stake in shares of Yuanbao in the first quarter valued at about $72,000. Barclays PLC boosted its stake in shares of Yuanbao by 68.7% during the fourth quarter. Barclays PLC now owns 41,988 shares of the company’s stock worth $851,000 after buying an additional 17,105 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Yuanbao during the third quarter worth about $59,613,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Yuanbao by 53.7% during the third quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock worth $653,000 after buying an additional 11,607 shares during the last quarter.
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.
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