Full Truck Alliance (NYSE:YMM) Sees Strong 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.

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 13,359,061 shares traded hands 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 Analyst Weigh In

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

Full Truck Alliance Stock Up 1.5%

The company has a market capitalization of $11.91 billion, a P/E ratio of 22.75 and a beta of 0.20. The business's 50-day moving average price is $12.01 and its 200 day moving average price is $11.91.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of YMM. GAM Holding AG lifted its stake in shares of Full Truck Alliance by 88.2% in the 2nd quarter. GAM Holding AG now owns 763,933 shares of the company's stock worth $9,022,000 after purchasing an additional 358,057 shares during the period. Hantz Financial Services Inc. increased its holdings in Full Truck Alliance by 642.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company's stock worth $45,000 after acquiring an additional 3,274 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Full Truck Alliance in the 2nd quarter worth approximately $1,767,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Full Truck Alliance by 9.6% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 781,353 shares of the company's stock worth $9,225,000 after acquiring an additional 68,367 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Full Truck Alliance by 36.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 109,608 shares of the company's stock worth $1,294,000 after acquiring an additional 29,117 shares in the last quarter. 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.