Full Truck Alliance (NYSE:YMM) Shares Up 5.7% - Still a Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s share price rose 5.7% during mid-day trading on Wednesday . The stock traded as high as $12.47 and last traded at $12.46. Approximately 2,228,026 shares were traded during trading, a decline of 75% from the average daily volume of 9,016,520 shares. The stock had previously closed at $11.78.

Analysts Set New Price Targets

YMM has been the topic of several recent analyst reports. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Monday, April 14th. HSBC assumed coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective for the company. Citigroup dropped their target price on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Finally, Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a research note on Thursday, March 6th. 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 company's stock. Based on data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Trading Down 4.2%

The stock's fifty day moving average price is $11.50 and its 200 day moving average price is $11.43. The stock has a market cap of $12.18 billion, a P/E ratio of 27.74 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were given a dividend of $0.1444 per share. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date of this dividend was Monday, April 7th. This represents a yield of 0.9%. Full Truck Alliance's dividend payout ratio (DPR) is presently 32.00%.

Hedge Funds Weigh In On Full Truck Alliance

Several institutional investors have recently modified their holdings of YMM. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the first quarter worth approximately $29,000. Brooklyn Investment Group lifted its holdings in shares of Full Truck Alliance by 495.4% in the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after acquiring an additional 2,046 shares during the last quarter. US Bancorp DE bought a new stake in shares of Full Truck Alliance in the 1st quarter worth approximately $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $64,000. Finally, Summit Securities Group LLC grew its holdings in shares of Full Truck Alliance by 1,466.6% during the 1st quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock valued at $64,000 after purchasing an additional 4,693 shares during the last quarter. 39.02% of the stock is currently owned by 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.