Full Truck Alliance (NYSE:YMM) Rating Increased to Strong-Buy at Hsbc Global Res

Full Truck Alliance (NYSE:YMM) was upgraded by research analysts at Hsbc Global Res to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

YMM has been the subject of several other reports. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th. Citigroup boosted their target price 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 began coverage on shares of Full Truck Alliance in a research report on Wednesday. They issued a “buy” rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.25.

Full Truck Alliance Trading Up 0.6 %

Shares of YMM stock opened at $11.66 on Wednesday. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 27.75 and a beta of 0.25. The firm’s 50 day moving average is $11.48 and its 200-day moving average is $9.74. Full Truck Alliance has a 1 year low of $5.70 and a 1 year high of $13.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new position in shares of Full Truck Alliance during the 3rd quarter valued at about $3,525,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after acquiring an additional 100,080 shares during the period. XTX Topco Ltd increased its holdings in Full Truck Alliance by 318.2% during the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock worth $1,480,000 after purchasing an additional 125,001 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $263,000. Finally, State Street Corp lifted its stake in Full Truck Alliance by 6.4% in the 3rd quarter. State Street Corp now owns 2,609,508 shares of the company’s stock valued at $23,512,000 after acquiring an additional 155,834 shares in the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

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.