Full Truck Alliance (NYSE:YMM) Trading 4.4% Higher – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM) shot up 4.4% during trading on Tuesday . The company traded as high as $9.99 and last traded at $9.91. 3,911,364 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 8,584,902 shares. The stock had previously closed at $9.49.

Analyst Ratings Changes

A number of brokerages recently commented on YMM. Citigroup upped their target price on Full Truck Alliance from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays cut 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. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $10.00.

Full Truck Alliance Price Performance

The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $8.37. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 22.61 and a beta of 0.23.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tobam acquired a new position in Full Truck Alliance during the second quarter worth $35,000. Blue Trust Inc. acquired a new position in Full Truck Alliance during the second quarter worth $38,000. Atomi Financial Group Inc. raised its stake in Full Truck Alliance by 12.4% during the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after acquiring an additional 1,329 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Full Truck Alliance by 34.0% during the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock worth $98,000 after acquiring an additional 3,421 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Full Truck Alliance during the third quarter worth $151,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.