Full Truck Alliance (NYSE:YMM) Stock Bumped Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Full Truck Alliance to “buy” from “hold.” Overall analyst sentiment is “Moderate Buy,” with six Buy ratings, three Holds and a consensus price target of $11.30.
• Full Truck Alliance reported quarterly EPS of $0.20, beating estimates by $0.01, while revenue of $497.73 million exceeded expectations of $463.13 million.
• YMM opened at $8.28, below its 50-day and 200-day moving averages, with a 52-week range of $7.45 to $13.40; institutional investors own about 39.02% of the stock.

Full Truck Alliance (NYSE:YMM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

YMM has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.60 to $10.00 in a research report on Monday, June 29th. UBS Group reiterated a "buy" rating and set a $13.36 target price on shares of Full Truck Alliance in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Full Truck Alliance from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.30.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM opened at $8.28 on Friday. The firm has a fifty day moving average of $8.46 and a 200 day moving average of $8.62. Full Truck Alliance has a 52-week low of $7.45 and a 52-week high of $13.40. The firm has a market capitalization of $8.63 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.75 and a beta of 0.22.

Full Truck Alliance (NYSE:YMM - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $497.73 million for the quarter, compared to analysts' expectations of $463.13 million. Full Truck Alliance had a net margin of 33.07% and a return on equity of 10.68%. On average, sell-side analysts forecast that Full Truck Alliance will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of YMM. Parallel Advisors LLC purchased a new position in shares of Full Truck Alliance during the first quarter worth about $25,000. Rockefeller Capital Management L.P. purchased a new position in shares of Full Truck Alliance in the 4th quarter valued at about $39,000. Handelsbanken Fonder AB increased its holdings in Full Truck Alliance by 2.7% in the second quarter. Handelsbanken Fonder AB now owns 275,182 shares of the company's stock valued at $2,234,000 after buying an additional 7,284 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Full Truck Alliance by 61.1% in the second quarter. QRG Capital Management Inc. now owns 21,039 shares of the company's stock valued at $171,000 after buying an additional 7,976 shares in the last quarter. Finally, C WorldWide Group Holding A S increased its holdings in Full Truck Alliance by 0.8% in the second quarter. C WorldWide Group Holding A S now owns 1,153,400 shares of the company's stock valued at $9,366,000 after buying an additional 9,100 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

About Full Truck Alliance

Full Truck Alliance Co Ltd. is a China-based digital freight platform that connects shippers with truck drivers and logistics companies. The company operates through its Yunmanman and Huochebang platforms, which help users find transportation capacity, arrange shipments and manage freight transactions through online tools.

Its services are designed to improve the efficiency of China's road freight industry by matching cargo with available trucks and providing information and transaction support.

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