Full Truck Alliance (NYSE:YMM) Trading Down 3.5% – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares traded down 3.5% on Thursday . The company traded as low as $9.45 and last traded at $9.50. 2,215,142 shares were traded during trading, a decline of 74% from the average session volume of 8,520,610 shares. The stock had previously closed at $9.84.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on YMM shares. Citigroup increased their price target on shares of Full Truck Alliance from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays lowered their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.00.

Full Truck Alliance Trading Down 2.6 %

The company has a market cap of $10.09 billion, a PE ratio of 27.20 and a beta of 0.23. The firm has a 50 day moving average of $8.77 and a two-hundred day moving average of $8.36.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $380.38 million during the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. On average, research analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Full Truck Alliance

Several institutional investors and hedge funds have recently made changes to their positions in YMM. Russell Investments Group Ltd. purchased a new stake in shares of Full Truck Alliance during the first quarter valued at $2,875,000. Vanguard Group Inc. grew its stake in shares of Full Truck Alliance by 0.7% in the first quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock worth $186,826,000 after acquiring an additional 170,657 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Full Truck Alliance by 34.0% during the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares during the last quarter. Bamco Inc. NY lifted its position in Full Truck Alliance by 2.3% during the first quarter. Bamco Inc. NY now owns 10,819,188 shares of the company’s stock valued at $78,655,000 after purchasing an additional 238,622 shares during the period. Finally, Caxton Associates LP purchased a new stake in Full Truck Alliance in the first quarter worth approximately $324,000. 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.