Full Truck Alliance (NYSE:YMM) Trading Down 3.5% – Here’s What Happened

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) traded down 3.5% on Thursday . The company traded as low as $9.45 and last traded at $9.50. 2,215,142 shares were traded during trading, a decline of 74% from the average session volume of 8,520,610 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Citigroup raised their price objective on shares of Full Truck Alliance from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance currently has a consensus rating of “Buy” and an average target price of $10.00.

Full Truck Alliance Trading Down 3.4 %

The business’s fifty day moving average price is $8.86 and its 200 day moving average price is $8.37. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 22.31 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $380.38 million for the quarter, compared to analysts’ expectations of $369.24 million. Full Truck Alliance had a net margin of 29.59% and a return on equity of 9.02%. As a group, sell-side analysts forecast that Full Truck Alliance Co. Ltd. will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of YMM. Russell Investments Group Ltd. purchased a new position in Full Truck Alliance in the 1st quarter valued at $2,875,000. Vanguard Group Inc. grew its position in Full Truck Alliance by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after buying an additional 170,657 shares during the last quarter. Advisors Asset Management Inc. grew its position in Full Truck Alliance by 34.0% in the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after buying an additional 3,421 shares during the last quarter. Caxton Associates LP purchased a new position in Full Truck Alliance in the 1st quarter valued at $324,000. Finally, Janus Henderson Group PLC grew its position in Full Truck Alliance by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock valued at $85,822,000 after buying an additional 317,980 shares during the last quarter. 39.02% of the stock is currently owned by hedge funds and other 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.