Full Truck Alliance (NYSE:YMM) Trading Down 6.9% - Here's Why

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) was down 6.9% during mid-day trading on Wednesday . The stock traded as low as $9.64 and last traded at $9.65. Approximately 9,194,820 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 9,045,010 shares. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

YMM has been the subject of several research reports. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $10.00 in a research note on Monday. Barclays lifted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. HSBC assumed coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price for the company. Finally, Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a report on Thursday, March 6th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $14.80.

Full Truck Alliance Trading Up 2.1 %

The firm has a 50 day simple moving average of $12.26 and a two-hundred day simple moving average of $10.86. The company has a market capitalization of $10.40 billion, a PE ratio of 23.50 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be given a $0.1444 dividend. The ex-dividend date is Monday, April 7th. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio (DPR) is currently 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

Hedge funds and other institutional investors have recently modified their holdings of the company. IMC Chicago LLC purchased a new position in shares of Full Truck Alliance in the 4th quarter valued at $263,000. State Street Corp boosted its position in Full Truck Alliance by 6.4% during the 3rd quarter. State Street Corp now owns 2,609,508 shares of the company's stock valued at $23,512,000 after purchasing an additional 155,834 shares during the period. Barclays PLC bought a new stake in Full Truck Alliance during the 3rd quarter valued at $3,566,000. Maple Brown Abbott Ltd boosted its stake in Full Truck Alliance by 104.8% during the 4th quarter. Maple Brown Abbott Ltd now owns 117,472 shares of the company's stock valued at $1,271,000 after purchasing an additional 60,100 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in Full Truck Alliance in the fourth quarter worth approximately $143,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

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.