Yuanbao (NASDAQ:YB) Shares Down 9.9% - Here's What Happened

Yuanbao Inc. - Sponsored ADR (NASDAQ:YB - Get Free Report) traded down 9.9% on Thursday . The stock traded as low as $17.41 and last traded at $17.5410. 91,900 shares traded hands during trading, an increase of 76% from the average session volume of 52,107 shares. The stock had previously closed at $19.47.Analysts Set New Price TargetsYB has been the topic of several recent analyst reports. Wall Street Zen lowered Yuanbao from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Yuanbao in a research note on Monday, December 29th. Finally, Citigroup assumed coverage on Yuanbao in a research report on Monday, February 23rd. They issued a "neutral" rating and a $21.80 target price on the stock. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $21.80.Read Our Latest Stock Analysis on YuanbaoYuanbao Price PerformanceThe business's 50-day simple moving average is $19.95 and its two-hundred day simple moving average is $20.97. The stock has a market cap of $791.60 million and a price-to-earnings ratio of 6.12. Yuanbao (NASDAQ:YB - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.99 earnings per share (EPS) for the quarter. The company had revenue of $167.98 million for the quarter. Hedge Funds Weigh In On YuanbaoLarge investors have recently bought and sold shares of the company. 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 purchasing an additional 11,607 shares during the last quarter. Barclays PLC raised its holdings in Yuanbao by 68.7% in the 4th quarter. Barclays PLC now owns 41,988 shares of the company's stock valued at $851,000 after buying an additional 17,105 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Yuanbao during the 2nd quarter worth approximately $370,000. Franchise GP Ltd bought a new stake in Yuanbao during the 4th quarter worth approximately $1,351,000. Finally, WFM ASIA BVI Ltd grew its holdings in Yuanbao by 89.9% during the 3rd quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company's stock worth $3,584,000 after acquiring an additional 86,414 shares during the last quarter. Yuanbao Company Profile (Get Free Report)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.Featured StoriesFive stocks we like better than YuanbaoThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Yuanbao Right Now?Before you consider Yuanbao, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Yuanbao wasn't on the list.While Yuanbao currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here