Yuanbao (NASDAQ:YB) Shares Up 6.9% – Here’s What Happened

Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) shares were up 6.9% during trading on Friday . The stock traded as high as $22.70 and last traded at $22.54. Approximately 88,889 shares changed hands during trading, an increase of 11% from the average daily volume of 79,855 shares. The stock had previously closed at $21.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Yuanbao in a research note on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Yuanbao Price Performance

The stock has a market capitalization of $988.60 million and a PE ratio of 12.25. The business has a 50-day simple moving average of $21.32.

Hedge Funds Weigh In On Yuanbao

A number of institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in shares of Yuanbao in the second quarter valued at approximately $370,000. JPMorgan Chase & Co. bought a new stake in Yuanbao in the 2nd quarter valued at $454,000. WFM ASIA BVI Ltd acquired a new stake in Yuanbao during the 2nd quarter valued at $2,020,000. Finally, Susquehanna International Group LLP acquired a new stake in Yuanbao during the 3rd quarter valued at $59,613,000.

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.