Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report)'s share price was down 5.3% during mid-day trading on Wednesday . The stock traded as low as $12.65 and last traded at $12.62. Approximately 2,900,973 shares changed hands 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 Analyst Weigh In
Several brokerages recently weighed in on YMM. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Citigroup reduced their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Two equities research 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 company. According to data from MarketBeat, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.
Check Out Our Latest Stock Analysis on YMM
Full Truck Alliance Price Performance
The stock has a market capitalization of $12.84 billion, a PE ratio of 24.56 and a beta of 0.20. The company has a 50 day moving average price of $12.13 and a 200-day moving average price of $11.85.
Institutional Investors Weigh In On Full Truck Alliance
Several hedge funds have recently added to or reduced their stakes in YMM. FIL Ltd lifted its holdings in shares of Full Truck Alliance by 83.0% during the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company's stock valued at $559,725,000 after purchasing an additional 23,468,794 shares in the last quarter. Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance during the fourth quarter valued at $164,557,000. JPMorgan Chase & Co. lifted its holdings in shares of Full Truck Alliance by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after purchasing an additional 10,383,716 shares in the last quarter. Norges Bank bought a new position in shares of Full Truck Alliance during the fourth quarter valued at $101,649,000. Finally, Kontiki Capital Management HK Ltd. bought a new position in shares of Full Truck Alliance during the first quarter valued at $81,320,000. 39.02% of the stock is owned by institutional investors.
About Full Truck Alliance
(
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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.
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