Full Truck Alliance (NYSE:YMM) Trading 4.5% Higher - What's Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s stock price shot up 4.5% during mid-day trading on Thursday . The company traded as high as $12.67 and last traded at $12.66. 3,628,039 shares were traded during mid-day trading, a decline of 59% from the average session volume of 8,881,156 shares. The stock had previously closed at $12.11.

Analyst Ratings Changes

Several research analysts recently weighed in on YMM shares. 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 note on Monday, April 14th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research note on Thursday, March 6th. Barclays boosted their target price 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. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price on the stock. Finally, Citigroup dropped their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research note 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 stock. Based on data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Down 3.9%

The business has a 50-day moving average price of $11.48 and a 200-day moving average price of $11.63. The firm has a market capitalization of $12.56 billion, a PE ratio of 28.60 and a beta of 0.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Full Truck Alliance during the first quarter worth $2,691,000. Bayforest Capital Ltd raised its stake in shares of Full Truck Alliance by 51.9% in the first quarter. Bayforest Capital Ltd now owns 43,607 shares of the company's stock valued at $557,000 after acquiring an additional 14,908 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Full Truck Alliance in the first quarter valued at $1,033,000. Goldman Sachs Group Inc. raised its stake in shares of Full Truck Alliance by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 10,761,409 shares of the company's stock valued at $137,423,000 after acquiring an additional 935,344 shares in the last quarter. Finally, KADENSA CAPITAL Ltd raised its stake in shares of Full Truck Alliance by 185.0% in the first quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company's stock valued at $16,451,000 after acquiring an additional 836,189 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.