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Full Truck Alliance (NYSE:YMM) Stock Price Down 5.3% - Should You Sell?

Full Truck Alliance logo with Business Services background

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report)'s stock price was down 5.3% during mid-day trading on Wednesday . The company traded as low as $12.65 and last traded at $12.62. Approximately 2,900,973 shares were traded during trading, a decline of 64% from the average daily volume of 7,950,604 shares. The stock had previously closed at $13.32.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on YMM

Full Truck Alliance Stock Down 5.5%

The stock has a 50-day moving average price of $12.10 and a 200 day moving average price of $11.82. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 25.17 and a beta of 0.20.

Hedge Funds Weigh In On Full Truck Alliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YMM. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Full Truck Alliance by 1.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,722 shares in the last quarter. OPTIMAS CAPITAL Ltd acquired a new position in Full Truck Alliance in the fourth quarter valued at approximately $955,000. Northwest & Ethical Investments L.P. acquired a new position in Full Truck Alliance in the fourth quarter valued at approximately $1,584,000. Vanguard Group Inc. boosted its holdings in Full Truck Alliance by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock valued at $313,164,000 after purchasing an additional 295,301 shares in the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd boosted its holdings in Full Truck Alliance by 354.5% in the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,363,614 shares of the company's stock valued at $14,754,000 after purchasing an additional 1,063,614 shares in the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

About Full Truck Alliance

(Get Free Report)

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.

Further Reading

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