Full Truck Alliance Co. Ltd. (NYSE:YMM) Short Interest Up 41.2% in April

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 20,600,000 shares, an increase of 41.2% from the March 31st total of 14,590,000 shares. Based on an average trading volume of 9,810,000 shares, the short-interest ratio is currently 2.1 days. Currently, 2.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Full Truck Alliance

A number of hedge funds have recently modified their holdings of YMM. Barclays PLC bought a new position in Full Truck Alliance in the third quarter valued at approximately $3,566,000. Geode Capital Management LLC raised its holdings in shares of Full Truck Alliance by 3.7% during the third quarter. Geode Capital Management LLC now owns 118,404 shares of the company's stock worth $1,067,000 after acquiring an additional 4,235 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Full Truck Alliance during the third quarter worth $207,000. Tidal Investments LLC bought a new stake in Full Truck Alliance in the 3rd quarter valued at $1,258,000. Finally, Franklin Resources Inc. boosted its stake in Full Truck Alliance by 31.5% in the 3rd quarter. Franklin Resources Inc. now owns 277,966 shares of the company's stock worth $2,613,000 after purchasing an additional 66,638 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Trading Up 1.5 %

Shares of YMM stock traded up $0.18 on Tuesday, hitting $12.02. The stock had a trading volume of 1,615,398 shares, compared to its average volume of 9,157,342. Full Truck Alliance has a twelve month low of $6.66 and a twelve month high of $13.85. The company has a fifty day moving average price of $11.82 and a two-hundred day moving average price of $11.04. The firm has a market cap of $12.57 billion, a P/E ratio of 28.58 and a beta of 0.20.

Full Truck Alliance Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on YMM. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut 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. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Barclays lifted their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, HSBC began coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Full Truck Alliance presently has an average rating of "Buy" and an average price target of $14.80.

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.