Full Truck Alliance (NYSE:YMM) Trading Down 7.3% - What's Next?

Key Points

• Full Truck Alliance's shares dropped by 7.3% during mid-day trading, falling to a low of $11.07 and closing at $10.97.
• Analysts have adjusted their price targets for the stock, with Citigroup lowering it from $16.50 to $16.00 and JPMorgan reducing it from $18.00 to $10.00.
• Institutional investors hold 39.02% of Full Truck Alliance's stock, with notable increases in holdings by firms like Vanguard Group and JPMorgan Chase.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $15.00, despite the recent price decline.

Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) were down 7.3% during mid-day trading on Friday . The company traded as low as $11.07 and last traded at $10.97. Approximately 9,729,711 shares were traded during mid-day trading, an increase of 19% from the average daily volume of 8,151,788 shares. The stock had previously closed at $11.83.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on YMM shares. Citigroup lowered their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Trading Down 4.9%

The business has a 50 day simple moving average of $12.08 and a two-hundred day simple moving average of $11.88. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 22.47 and a beta of 0.20.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of YMM. Vanguard Group Inc. lifted its holdings in Full Truck Alliance by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after buying an additional 295,301 shares during the last quarter. Brilliance Asset Management Ltd. lifted its holdings in shares of Full Truck Alliance by 29.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company's stock worth $45,375,000 after purchasing an additional 954,124 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Full Truck Alliance by 37.8% in the 4th 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 last quarter. Norges Bank bought a new stake in shares of Full Truck Alliance in the 4th quarter worth approximately $101,649,000. Finally, Schroder Investment Management Group lifted its holdings in shares of Full Truck Alliance by 460.5% in the 4th quarter. Schroder Investment Management Group now owns 859,444 shares of the company's stock worth $9,299,000 after purchasing an additional 706,122 shares during the last quarter. Institutional investors own 39.02% of the company's stock.

Full Truck Alliance Company Profile

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.

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