Full Truck Alliance (NYSE:YMM) Shares Gap Up – Still a Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.57, but opened at $8.89. Full Truck Alliance shares last traded at $9.23, with a volume of 4,060,965 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on YMM shares. Barclays lowered their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Citigroup increased their price target on shares of Full Truck Alliance from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $10.00.

Full Truck Alliance Trading Down 1.4 %

The company has a 50 day simple moving average of $8.82 and a 200 day simple moving average of $8.37. The stock has a market capitalization of $10.22 billion, a PE ratio of 23.10 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $380.38 million during the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. On average, equities research analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Institutional Trading of Full Truck Alliance

Several hedge funds have recently made changes to their positions in YMM. Tobam purchased a new stake in shares of Full Truck Alliance during the 2nd quarter worth $35,000. Blue Trust Inc. purchased a new stake in Full Truck Alliance during the second quarter worth about $38,000. Atomi Financial Group Inc. grew its position in Full Truck Alliance by 12.4% during the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after buying an additional 1,329 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Full Truck Alliance by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after acquiring an additional 3,421 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Full Truck Alliance in the 3rd quarter worth approximately $151,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.