Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) dropped 4.5% on Monday . The company traded as low as $10.70 and last traded at $10.70. Approximately 4,150,070 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 8,870,973 shares. The stock had previously closed at $11.21.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on YMM shares. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup boosted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Barclays reduced 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 research note on Friday, August 23rd.
Check Out Our Latest Stock Report on YMM
Full Truck Alliance Stock Performance
The business has a fifty day moving average price of $9.49 and a 200 day moving average price of $8.54. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 26.69 and a beta of 0.28.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tobam bought a new position in Full Truck Alliance in the 2nd quarter valued at approximately $35,000. Blue Trust Inc. bought a new position in shares of Full Truck Alliance in the 2nd quarter valued at $38,000. Atomi Financial Group Inc. boosted its holdings in shares of Full Truck Alliance by 12.4% during 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. Aigen Investment Management LP bought a new stake in Full Truck Alliance during the 3rd quarter worth $151,000. Finally, Scientech Research LLC acquired a new position in Full Truck Alliance in the 2nd quarter worth about $156,000. Institutional investors own 39.02% of the company's stock.
About Full Truck Alliance
(
Get Free Report)
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.
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