Full Truck Alliance (NYSE:YMM) Shares Down 4.5% – Time to Sell?

Full Truck Alliance Co. Ltd. (NYSE:YMM) traded down 4.5% on Monday . The stock traded as low as $10.70 and last traded at $10.70. 4,150,070 shares were traded during trading, a decline of 53% from the average session volume of 8,870,973 shares. The stock had previously closed at $11.21.

Analysts Set New Price Targets

Several brokerages have recently weighed in on YMM. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th. Barclays reduced their target price on shares of 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. Finally, 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.

Full Truck Alliance Stock Performance

The business’s fifty day simple moving average is $9.56 and its 200 day simple moving average is $8.58. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 25.98 and a beta of 0.28.

Institutional Trading of Full Truck Alliance

A number of hedge funds and other institutional investors have recently made changes to their positions in YMM. Franklin Resources Inc. increased its holdings in Full Truck Alliance by 31.5% in the third quarter. Franklin Resources Inc. now owns 277,966 shares of the company’s stock valued at $2,613,000 after buying an additional 66,638 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Full Truck Alliance during the 3rd quarter valued at approximately $1,258,000. Wilmington Savings Fund Society FSB bought a new position in Full Truck Alliance during the third quarter worth $207,000. Geode Capital Management LLC boosted its holdings 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 worth $1,067,000 after purchasing an additional 4,235 shares during the period. Finally, ABS Direct Equity Fund LLC boosted its holdings 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 worth $4,391,000 after purchasing an additional 130,900 shares during the period. 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.