Full Truck Alliance (NYSE:YMM) Downgraded to Neutral Rating by JPMorgan Chase & Co.

Full Truck Alliance (NYSE:YMM) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a $13.00 price target on the stock, up from their prior price target of $12.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.06% from the company’s previous close.

A number of other research firms have also recently commented on YMM. Barclays lowered their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Citigroup boosted their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday.

Full Truck Alliance Price Performance

Shares of NYSE YMM opened at $11.92 on Wednesday. Full Truck Alliance has a 1 year low of $5.70 and a 1 year high of $12.47. The company’s 50-day moving average is $9.40 and its 200 day moving average is $8.49. The stock has a market capitalization of $12.56 billion, a P/E ratio of 28.38 and a beta of 0.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Full Truck Alliance during the 2nd quarter valued at about $38,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Full Truck Alliance by 12.1% during the second quarter. China Universal Asset Management Co. Ltd. now owns 350,000 shares of the company’s stock valued at $2,814,000 after buying an additional 37,870 shares during the last quarter. WT Asset Management Ltd bought a new stake in shares of Full Truck Alliance during the second quarter valued at approximately $909,000. Liontrust Investment Partners LLP purchased a new position in Full Truck Alliance in the 2nd quarter worth approximately $5,869,000. Finally, Atomi Financial Group Inc. lifted its position in Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after acquiring an additional 1,329 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.

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.