Full Truck Alliance (NYSE:YMM) Coverage Initiated at HSBC

HSBC assumed coverage on shares of Full Truck Alliance (NYSE:YMM) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $18.00 price target on the stock. HSBC’s price target would indicate a potential upside of 52.30% from the stock’s current price.

Several other equities analysts also recently issued reports on YMM. Citigroup raised their target price 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. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price target for the company from $12.00 to $13.00 in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Full Truck Alliance has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Full Truck Alliance Stock Performance

NYSE YMM opened at $11.82 on Wednesday. The firm has a market capitalization of $12.45 billion, a PE ratio of 28.14 and a beta of 0.25. Full Truck Alliance has a one year low of $5.70 and a one year high of $13.03. The company has a 50-day simple moving average of $11.45 and a 200-day simple moving average of $9.72.

Institutional Trading of Full Truck Alliance

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position 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 acquiring an additional 5,226 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Full Truck Alliance by 10.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,701,028 shares of the company’s stock worth $33,346,000 after purchasing an additional 353,891 shares during the period. First Beijing Investment Ltd purchased a new position in Full Truck Alliance during the third quarter valued at approximately $123,804,000. Crossmark Global Holdings Inc. grew its position in Full Truck Alliance by 44.1% during the third quarter. Crossmark Global Holdings Inc. now owns 30,102 shares of the company’s stock valued at $272,000 after purchasing an additional 9,210 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in Full Truck Alliance by 14.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 704,770 shares of the company’s stock valued at $6,347,000 after buying an additional 90,530 shares during the period. 39.02% of the stock is owned by hedge funds and other 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.