Full Truck Alliance (NYSE:YMM) Hits New 1-Year High - What's Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.63 and last traded at $13.62, with a volume of 3576894 shares traded. The stock had previously closed at $12.91.

Wall Street Analyst Weigh In

A number of research firms have issued reports on YMM. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays lifted their price target on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. HSBC started coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price target for the company. JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $13.00 to $18.00 in a research report on Thursday, March 6th. Finally, Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $16.40.

Full Truck Alliance Price Performance

The company has a market cap of $13.83 billion, a P/E ratio of 31.23 and a beta of 0.25. The company has a 50 day moving average of $12.04 and a 200-day moving average of $10.30.

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Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. The ex-dividend date is Monday, April 7th. This represents a yield of 0.9%. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's payout ratio is 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

Hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Full Truck Alliance during the third quarter worth about $3,525,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Full Truck Alliance by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company's stock worth $8,217,000 after buying an additional 100,080 shares during the period. XTX Topco Ltd increased its holdings in shares of Full Truck Alliance by 318.2% in the third quarter. XTX Topco Ltd now owns 164,281 shares of the company's stock worth $1,480,000 after buying an additional 125,001 shares during the period. IMC Chicago LLC purchased a new position in shares of Full Truck Alliance in the fourth quarter worth about $263,000. Finally, State Street Corp increased its holdings in shares of Full Truck Alliance by 6.4% in the third quarter. State Street Corp now owns 2,609,508 shares of the company's stock worth $23,512,000 after buying an additional 155,834 shares during the period. 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.