Short Interest in Full Truck Alliance Co. Ltd. (NYSE:YMM) Drops By 38.2%

Full Truck Alliance Co. Ltd. (NYSE:YMM) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a decrease of 38.2% from the February 13th total of 34,500,000 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average trading volume of 8,670,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on YMM shares. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays boosted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. HSBC started coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Stock Up 1.1 %

YMM stock traded up $0.14 during trading on Friday, hitting $12.90. 7,913,537 shares of the company’s stock traded hands, compared to its average volume of 7,961,098. The firm has a market capitalization of $13.59 billion, a P/E ratio of 30.70 and a beta of 0.25. Full Truck Alliance has a 1 year low of $6.66 and a 1 year high of $13.53. The business has a fifty day simple moving average of $11.81 and a two-hundred day simple moving average of $10.12.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be given a $0.1444 dividend. This represents a dividend yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. Full Truck Alliance’s payout ratio is presently 46.34%.

Institutional Investors Weigh In On Full Truck Alliance

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at about $64,000. Townsquare Capital LLC purchased a new stake in Full Truck Alliance during the fourth quarter valued at approximately $111,000. Wolverine Trading LLC acquired a new stake in Full Truck Alliance in the fourth quarter valued at approximately $115,000. Vise Technologies Inc. purchased a new position in Full Truck Alliance in the fourth quarter worth $130,000. Finally, Truist Financial Corp acquired a new position in shares of Full Truck Alliance during the fourth quarter worth $143,000. Institutional investors own 39.02% of the company’s stock.

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.