Full Truck Alliance (NYSE:YMM) Shares Gap Up to $7.64

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.64, but opened at $8.24. Full Truck Alliance shares last traded at $8.32, with a volume of 2,065,870 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their price objective on 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.

Full Truck Alliance Stock Performance

The company's fifty day simple moving average is $7.46 and its 200-day simple moving average is $7.97. The company has a market capitalization of $8.87 billion, a P/E ratio of 26.31 and a beta of 0.20.

Full Truck Alliance (NYSE:YMM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. On average, sell-side analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. acquired a new position in Full Truck Alliance during the 1st quarter valued at approximately $13,854,000. Janus Henderson Group PLC increased its position in shares of Full Truck Alliance by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company's stock valued at $85,822,000 after acquiring an additional 317,980 shares during the period. National Bank of Canada FI purchased a new position in Full Truck Alliance in the 2nd quarter worth $1,092,000. Acadian Asset Management LLC acquired a new stake in Full Truck Alliance during the 2nd quarter worth about $6,988,000. Finally, Mubadala Investment Co PJSC purchased a new stake in Full Truck Alliance during the 4th quarter valued at about $80,709,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

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.