Full Truck Alliance (NYSE:YMM) Trading Up 5.3% – Here’s Why

Full Truck Alliance Co. Ltd. (NYSE:YMM) rose 5.3% during trading on Tuesday . The stock traded as high as $11.30 and last traded at $11.23. Approximately 2,522,515 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 5,663,862 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup lifted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Full Truck Alliance Stock Up 0.3 %

The stock has a market cap of $11.77 billion, a P/E ratio of 26.61 and a beta of 0.25. The firm’s 50 day simple moving average is $10.32 and its two-hundred day simple moving average is $8.88.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of YMM. Blue Trust Inc. grew its stake in Full Truck Alliance by 109.5% during the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock worth $90,000 after buying an additional 5,226 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Full Truck Alliance during the third quarter worth about $151,000. Scientech Research LLC bought a new stake in Full Truck Alliance in the 2nd quarter valued at about $156,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Full Truck Alliance in the third quarter valued at approximately $207,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Full Truck Alliance by 29.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,969 shares of the company’s stock valued at $209,000 after purchasing an additional 5,847 shares during the period. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.