Full Truck Alliance (NYSE:YMM) Trading Down 3.2% - Time to Sell?

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) fell 3.2% during trading on Thursday . The stock traded as low as $11.68 and last traded at $11.69. 2,711,265 shares traded hands during trading, a decline of 69% from the average session volume of 8,746,673 shares. The stock had previously closed at $12.07.

Analyst Ratings Changes

YMM has been the topic of a number of research reports. Barclays increased their price objective on shares of 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. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. Finally, Citigroup cut their price target on 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. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Trading Up 0.4%

The firm has a 50-day simple moving average of $11.83 and a two-hundred day simple moving average of $11.71. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 20.72 and a beta of 0.20.

Institutional Investors Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YMM. QRG Capital Management Inc. purchased a new stake in shares of Full Truck Alliance during the 1st quarter worth about $315,000. Truist Financial Corp purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth about $143,000. Aigen Investment Management LP boosted its stake in shares of Full Truck Alliance by 127.6% during the 4th quarter. Aigen Investment Management LP now owns 38,131 shares of the company's stock worth $413,000 after acquiring an additional 21,378 shares in the last quarter. AI Squared Management Ltd purchased a new stake in shares of Full Truck Alliance during the 4th quarter worth about $3,159,000. Finally, Brilliance Asset Management Ltd. boosted its stake in shares of Full Truck Alliance by 29.5% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company's stock worth $45,375,000 after acquiring an additional 954,124 shares in the last quarter. 39.02% of the stock is 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.