Full Truck Alliance (NYSE:YMM) Trading Up 7.1% - Time to Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s stock price shot up 7.1% during trading on Monday . The company traded as high as $10.63 and last traded at $10.36. Approximately 3,780,423 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 9,187,182 shares. The stock had previously closed at $9.67.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. Barclays lifted their price objective on shares of 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 began coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target for the company. Finally, Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.80.

Full Truck Alliance Price Performance

The company has a market cap of $10.61 billion, a price-to-earnings ratio of 23.96 and a beta of 0.19. The firm's 50-day moving average price is $12.05 and its 200-day moving average price is $10.87.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, April 7th were paid a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. The ex-dividend date was Monday, April 7th. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's payout ratio is currently 39.02%.

Institutional Trading of Full Truck Alliance

A number of hedge funds have recently made changes to their positions in YMM. State Street Corp increased its position in shares of Full Truck Alliance by 6.4% during the third quarter. State Street Corp now owns 2,609,508 shares of the company's stock worth $23,512,000 after acquiring an additional 155,834 shares during the last quarter. Barclays PLC acquired a new position in Full Truck Alliance during the 3rd quarter worth $3,566,000. Geode Capital Management LLC raised its stake in shares of Full Truck Alliance by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company's stock valued at $1,067,000 after purchasing an additional 4,235 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Full Truck Alliance during the third quarter worth about $207,000. Finally, Tidal Investments LLC bought a new position in Full Truck Alliance during the 3rd quarter worth approximately $1,258,000. Hedge funds and other 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.