Full Truck Alliance (NYSE:YMM) Trading Up 4.4% – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares shot up 4.4% on Tuesday . The company traded as high as $9.99 and last traded at $9.91. 3,911,364 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 8,584,902 shares. The stock had previously closed at $9.49.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on YMM. Citigroup raised their target price on shares of Full Truck Alliance from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays decreased their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Full Truck Alliance presently has an average rating of “Buy” and a consensus target price of $10.00.

Full Truck Alliance Stock Performance

The stock has a market cap of $10.51 billion, a PE ratio of 23.75 and a beta of 0.23. The company’s 50-day moving average price is $8.95 and its 200 day moving average price is $8.38.

Institutional Trading of Full Truck Alliance

Several institutional investors have recently made changes to their positions in YMM. Vanguard Group Inc. raised its position in shares of Full Truck Alliance by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after buying an additional 170,657 shares during the period. Advisors Asset Management Inc. raised 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 buying an additional 3,421 shares during the period. Blue Trust Inc. purchased a new stake in shares of Full Truck Alliance during the 2nd quarter valued at approximately $38,000. China Universal Asset Management Co. Ltd. increased its holdings in Full Truck Alliance by 12.1% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 350,000 shares of the company’s stock valued at $2,814,000 after purchasing an additional 37,870 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new stake in Full Truck Alliance in the 2nd quarter valued at approximately $909,000. Hedge funds and other institutional investors 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.