Full Truck Alliance (NYSE:YMM) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Full Truck Alliance (NYSE:YMM) experienced a significant increase in trading volume, with over 13 million shares traded on Monday, reflecting a 58% rise from the prior session.
• Analysts have mixed opinions on the stock, with Citigroup lowering its price target from $16.50 to $16.00 while JPMorgan downgraded it to a price target of $10.00, though the overall consensus remains a "Moderate Buy" rating.
• Institutional investors are actively adjusting their positions, with FIL Ltd increasing its stake by 83% in the last quarter, indicating strong institutional interest in Full Truck Alliance.

Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) saw unusually-high trading volume on Monday . Approximately 13,359,061 shares were traded during mid-day trading, an increase of 58% from the previous session's volume of 8,443,982 shares.The stock last traded at $10.88 and had previously closed at $10.66.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Citigroup reduced their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Down 1.1%

The company has a market capitalization of $12.03 billion, a P/E ratio of 23.03 and a beta of 0.20. The business has a 50 day moving average of $11.99 and a 200 day moving average of $11.91.

Institutional Investors Weigh In On Full Truck Alliance

Several large investors have recently bought and sold shares of YMM. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Full Truck Alliance by 6.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after buying an additional 1,406 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Full Truck Alliance by 66.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 627,958 shares of the company's stock valued at $8,019,000 after purchasing an additional 249,788 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Full Truck Alliance in the 1st quarter worth approximately $315,000. Softbank Group CORP. increased its position in shares of Full Truck Alliance by 279.9% during the 4th quarter. Softbank Group CORP. now owns 4,220,001 shares of the company's stock valued at $45,660,000 after purchasing an additional 3,109,250 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Full Truck Alliance by 20.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after buying an additional 3,442 shares during the period. Institutional investors own 39.02% of the company's stock.

About Full Truck Alliance

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.