Full Truck Alliance (NYSE:YMM) Shares Up 6.7% - What's Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) shares shot up 6.7% during trading on Friday . The stock traded as high as $10.16 and last traded at $10.14. 14,727,798 shares were traded during trading, an increase of 72% from the average session volume of 8,579,029 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

Separately, Barclays cut their target price on Full Truck Alliance from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Friday, August 23rd.

Full Truck Alliance Stock Performance

The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 31.31 and a beta of 0.23. The business has a 50 day moving average price of $7.64 and a 200-day moving average price of $8.07.

Full Truck Alliance (NYSE:YMM - Get Free Report) last issued its earnings results on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. The business had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. As a group, equities analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Full Truck Alliance

Hedge funds and other institutional investors have recently modified their holdings of the business. Mubadala Investment Co PJSC purchased a new position in Full Truck Alliance in the fourth quarter valued at approximately $80,709,000. Sylebra Capital LLC bought a new position in shares of Full Truck Alliance in the first quarter worth $36,877,000. Jupiter Asset Management Ltd. bought a new position in shares of Full Truck Alliance in the first quarter worth $13,854,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Full Truck Alliance by 1,220.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company's stock worth $15,961,000 after purchasing an additional 1,834,900 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Full Truck Alliance in the third quarter worth $10,814,000. 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.

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