Full Truck Alliance Co. Ltd. (NYSE:YMM) Short Interest Update

Full Truck Alliance Co. Ltd. (NYSE:YMM - Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a decrease of 38.2% from the February 13th total of 34,500,000 shares. Approximately 2.5% of the company's stock are sold short. Based on an average daily trading volume, of 8,670,000 shares, the days-to-cover ratio is presently 2.5 days.

Full Truck Alliance Price Performance

Shares of NYSE YMM traded up $0.16 during trading hours on Wednesday, hitting $13.69. 3,505,873 shares of the stock were exchanged, compared to its average volume of 8,525,369. The company's 50 day moving average is $11.93 and its 200 day moving average is $10.26. The firm has a market capitalization of $14.42 billion, a P/E ratio of 32.59 and a beta of 0.25. Full Truck Alliance has a one year low of $6.66 and a one year high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be issued a dividend of $0.1444 per share. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance's dividend payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. HSBC assumed coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target on the stock. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. Citigroup increased their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, Barclays increased their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $16.40.

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Institutional Trading of Full Truck Alliance

Several large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Full Truck Alliance by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,722 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Full Truck Alliance by 20.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company's stock valued at $221,000 after purchasing an additional 3,442 shares during the period. abrdn plc boosted its holdings in Full Truck Alliance by 22.6% in the 4th quarter. abrdn plc now owns 22,705 shares of the company's stock valued at $246,000 after purchasing an additional 4,187 shares during the period. Geode Capital Management LLC boosted its holdings in 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 during the period. Finally, LMR Partners LLP boosted its holdings in Full Truck Alliance by 25.4% in the 4th quarter. LMR Partners LLP now owns 27,881 shares of the company's stock valued at $302,000 after purchasing an additional 5,646 shares during the period. 39.02% of the stock is owned by institutional investors.

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.