Full Truck Alliance (NYSE:YMM) Earns Buy Rating from Analysts at HSBC

HSBC assumed coverage on shares of Full Truck Alliance (NYSE:YMM - Free Report) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $18.00 price objective on the stock.

Several other analysts have also recently commented on YMM. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th. Citigroup increased their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Full Truck Alliance presently has an average rating of "Buy" and a consensus price target of $13.25.

Full Truck Alliance Trading Up 0.8 %

Shares of YMM stock traded up $0.09 during mid-day trading on Wednesday, reaching $11.77. The stock had a trading volume of 6,355,397 shares, compared to its average volume of 7,322,905. The business's fifty day moving average is $11.49 and its 200-day moving average is $9.77. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 28.02 and a beta of 0.25. Full Truck Alliance has a 1-year low of $5.70 and a 1-year high of $13.03.

Institutional Trading of Full Truck Alliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Full Truck Alliance during the fourth quarter valued at $64,000. Blue Trust Inc. raised its holdings in Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company's stock worth $90,000 after purchasing an additional 5,226 shares during the period. Townsquare Capital LLC acquired a new position in Full Truck Alliance in the 4th quarter worth about $111,000. Wolverine Trading LLC acquired a new position in Full Truck Alliance in the 4th quarter worth about $115,000. Finally, Vise Technologies Inc. acquired a new position in Full Truck Alliance in the 4th quarter worth about $130,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Company Profile

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.