Short Interest in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Expands By 127.0%

Key Points

• Short interest in Full Truck Alliance surged by 127.0% in July, reaching a total of 22,040,000 shares, indicating growing bearish sentiment among investors.
• Several institutional investors increased their stakes significantly, with FIL Ltd expanding its holdings by 83.0% in the most recent quarter.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and an average target price of $15.00, despite Citigroup and JPMorgan recently adjusting their price targets downward.

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 22,040,000 shares, anincreaseof127.0% from the June 30th total of 9,710,000 shares. Based on an average daily volume of 7,000,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately2.5% of the company's shares are short sold. Approximately2.5% of the company's shares are short sold. Based on an average daily volume of 7,000,000 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of Full Truck Alliance

Several large investors have recently added to or reduced their stakes in the stock. FIL Ltd grew its holdings in Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company's stock valued at $559,725,000 after buying an additional 23,468,794 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Full Truck Alliance by 3.1% during the 1st quarter. Invesco Ltd. now owns 30,965,571 shares of the company's stock worth $395,430,000 after purchasing an additional 917,263 shares during the period. Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 29,373,877 shares of the company's stock worth $375,104,000 after purchasing an additional 430,834 shares during the period. Krane Funds Advisors LLC grew its holdings in shares of Full Truck Alliance by 23.2% during the 1st quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock worth $334,665,000 after purchasing an additional 4,931,028 shares during the period. Finally, Aspex Management HK Ltd purchased a new position in shares of Full Truck Alliance during the 4th quarter worth $164,557,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

NYSE YMM traded up $0.27 during mid-day trading on Tuesday, hitting $11.26. The stock had a trading volume of 3,622,326 shares, compared to its average volume of 8,623,264. The firm's 50 day moving average is $12.03 and its 200 day moving average is $11.92. Full Truck Alliance has a twelve month low of $6.85 and a twelve month high of $13.85. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 22.51 and a beta of 0.20.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup decreased their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

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.

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