Full Truck Alliance (NYSE:YMM) Hits New 1-Year High – Time to Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $13.05 and last traded at $13.07, with a volume of 661455 shares changing hands. The stock had previously closed at $11.67.

Analyst Ratings Changes

A number of brokerages have issued reports on YMM. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th. HSBC assumed coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target on the stock. Citigroup lifted their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.25.

Full Truck Alliance Stock Performance

The company has a 50-day simple moving average of $11.50 and a two-hundred day simple moving average of $9.86. The firm has a market capitalization of $13.69 billion, a P/E ratio of 30.94 and a beta of 0.25.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Full Truck Alliance had a return on equity of 9.02% and a net margin of 29.59%. As a group, research analysts forecast that Full Truck Alliance Co. Ltd. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently modified their holdings of the stock. FIL Ltd lifted its position in Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after acquiring an additional 23,468,794 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in Full Truck Alliance during the fourth quarter valued at approximately $164,557,000. First Beijing Investment Ltd bought a new position in Full Truck Alliance in the 3rd quarter worth $123,804,000. JPMorgan Chase & Co. lifted its position in shares of Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after buying an additional 10,383,716 shares in the last quarter. Finally, Norges Bank purchased a new position in Full Truck Alliance during the fourth quarter valued at approximately $101,649,000. 39.02% of the stock is currently owned by 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.