Full Truck Alliance (NYSE:YMM) Upgraded at JPMorgan Chase & Co.

Full Truck Alliance (NYSE:YMM - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $18.00 price objective on the stock, up from their prior price objective of $13.00. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 47.48% from the stock's current price.

A number of other equities research analysts also recently weighed in on YMM. Citigroup raised their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. HSBC started coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective on the stock. Finally, Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $16.40.

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Full Truck Alliance Stock Performance

NYSE:YMM traded down $0.97 during trading hours on Thursday, reaching $12.21. The company's stock had a trading volume of 9,772,136 shares, compared to its average volume of 7,969,808. The stock has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $9.98. The company has a market capitalization of $12.86 billion, a P/E ratio of 29.06 and a beta of 0.25. Full Truck Alliance has a 12 month low of $6.57 and a 12 month high of $13.53.

Hedge Funds Weigh In On Full Truck Alliance

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $64,000. Townsquare Capital LLC acquired a new stake in Full Truck Alliance during the 4th quarter worth about $111,000. Wolverine Trading LLC purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at about $115,000. Vise Technologies Inc. acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at about $130,000. Finally, Truist Financial Corp purchased a new stake in shares of Full Truck Alliance in the fourth quarter worth about $143,000. 39.02% of the stock is owned by institutional investors and hedge funds.

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.