Full Truck Alliance (NYSE:YMM) Shares Gap Down – Time to Sell?

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares gapped down before the market opened on Wednesday . The stock had previously closed at $11.92, but opened at $11.50. Full Truck Alliance shares last traded at $11.64, with a volume of 1,218,346 shares.

Analyst Upgrades and Downgrades

YMM has been the subject of a number of research analyst reports. Barclays decreased their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $13.00 in a report on Wednesday. Finally, Citigroup lifted their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday.

Full Truck Alliance Trading Down 3.0 %

The company has a 50 day simple moving average of $9.40 and a 200 day simple moving average of $8.49. The stock has a market capitalization of $12.18 billion, a PE ratio of 28.38 and a beta of 0.28.

Hedge Funds Weigh In On Full Truck Alliance

A number of large investors have recently bought and sold shares of the company. Tobam purchased a new position in Full Truck Alliance during the second quarter worth about $35,000. Blue Trust Inc. acquired a new position in Full Truck Alliance during the second quarter worth $38,000. Atomi Financial Group Inc. raised its position in Full Truck Alliance by 12.4% in the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after acquiring an additional 1,329 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Full Truck Alliance in the third quarter valued at $151,000. Finally, Scientech Research LLC acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth $156,000. 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.