Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) shot up 5.3% during trading on Tuesday . The stock traded as high as $11.30 and last traded at $11.23. 2,522,515 shares were traded during mid-day trading, a decline of 55% from the average session volume of 5,663,862 shares. The stock had previously closed at $10.66.
Analysts Set New Price Targets
Several equities analysts have issued reports on YMM shares. Citigroup increased their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and raised their price target for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th.
Get Our Latest Research Report on Full Truck Alliance
Full Truck Alliance Stock Performance
The company has a market cap of $11.78 billion, a price-to-earnings ratio of 26.62 and a beta of 0.25. The firm's 50 day simple moving average is $10.27 and its 200-day simple moving average is $8.87.
Hedge Funds Weigh In On Full Truck Alliance
A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of Full Truck Alliance by 31.5% during the 3rd quarter. Franklin Resources Inc. now owns 277,966 shares of the company's stock worth $2,613,000 after buying an additional 66,638 shares during the last quarter. Tidal Investments LLC purchased a new position in Full Truck Alliance in the third quarter worth approximately $1,258,000. Wilmington Savings Fund Society FSB acquired a new stake in Full Truck Alliance during the third quarter worth $207,000. Geode Capital Management LLC raised its position in Full Truck Alliance by 3.7% in the third 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 during the period. Finally, ABS Direct Equity Fund LLC raised its position in Full Truck Alliance by 36.7% in the third quarter. ABS Direct Equity Fund LLC now owns 487,400 shares of the company's stock valued at $4,391,000 after purchasing an additional 130,900 shares during the period. Hedge funds and other institutional investors own 39.02% of the company's stock.
Full Truck Alliance Company Profile
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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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