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

Full Truck Alliance Co. Ltd. (NYSE:YMM) was up 5.3% during mid-day trading on Tuesday . The stock traded as high as $11.30 and last traded at $11.23. Approximately 2,522,515 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on YMM shares. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $13.00 in a research report on Wednesday, December 11th. 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.

Full Truck Alliance Trading Up 4.4 %

The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 26.50 and a beta of 0.25. The firm has a 50-day moving average of $10.23 and a 200 day moving average of $8.84.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Full Truck Alliance by 109.5% in 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 last quarter. Aigen Investment Management LP acquired a new position in shares of Full Truck Alliance in the 3rd quarter worth $151,000. Scientech Research LLC acquired a new position in shares of Full Truck Alliance in the 2nd quarter worth $156,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Full Truck Alliance in the 3rd quarter worth $207,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Full Truck Alliance by 29.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,969 shares of the company’s stock worth $209,000 after acquiring an additional 5,847 shares during the last quarter. 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.