Full Truck Alliance (NYSE:YMM) Shares Gap Down - Time to Sell?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $12.09, but opened at $11.62. Full Truck Alliance shares last traded at $11.86, with a volume of 2,828,179 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on YMM. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. HSBC assumed coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target on the stock. Barclays lifted their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research note on Thursday, March 6th. Finally, Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Price Performance

The stock has a market capitalization of $11.65 billion, a PE ratio of 26.52 and a beta of 0.20. The company has a 50 day moving average price of $11.65 and a 200-day moving average price of $11.32.

Full Truck Alliance Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were paid a dividend of $0.1444 per share. The ex-dividend date was Monday, April 7th. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. Full Truck Alliance's payout ratio is 39.02%.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds have recently made changes to their positions in YMM. FIL Ltd increased its stake 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 buying an additional 23,468,794 shares during the period. Aspex Management HK Ltd purchased a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $164,557,000. JPMorgan Chase & Co. grew its stake in Full Truck Alliance by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock worth $409,811,000 after purchasing an additional 10,383,716 shares during the period. Norges Bank purchased a new stake in Full Truck Alliance in the fourth quarter worth $101,649,000. Finally, Empower Harvest Management Services Inc. purchased a new stake in Full Truck Alliance in the fourth quarter worth $97,058,000. 39.02% of the stock is 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.