Full Truck Alliance (NYSE:YMM) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

Full Truck Alliance (NYSE:YMM) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $10.00 price target on the stock, down from their prior price target of $18.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.57% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Barclays increased their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price on the stock. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Full Truck Alliance has an average rating of “Buy” and a consensus price target of $14.80.

Full Truck Alliance Price Performance

Full Truck Alliance stock opened at $9.66 on Monday. The stock has a market cap of $10.17 billion, a PE ratio of 22.99 and a beta of 0.19. The stock’s fifty day moving average is $12.26 and its two-hundred day moving average is $10.86. Full Truck Alliance has a 1-year low of $6.66 and a 1-year high of $13.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Full Truck Alliance during the fourth quarter valued at approximately $64,000. Townsquare Capital LLC bought a new stake in shares of Full Truck Alliance during the 4th quarter worth $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance in the 4th quarter worth $115,000. Vise Technologies Inc. acquired a new stake in shares of Full Truck Alliance during the fourth quarter worth $130,000. Finally, Truist Financial Corp purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at $143,000. 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.