Full Truck Alliance (NYSE:YMM) Stock Price Up 5.6%

Full Truck Alliance Co. Ltd. (NYSE:YMM – Get Rating)’s share price rose 5.6% during trading on Friday . The stock traded as high as $5.89 and last traded at $5.88. Approximately 979,423 shares traded hands during trading, a decline of 84% from the average daily volume of 6,304,113 shares. The stock had previously closed at $5.57.

Wall Street Analyst Weigh In

YMM has been the topic of several recent research reports. TheStreet downgraded Full Truck Alliance from a “c-” rating to a “d+” rating in a research note on Thursday, February 23rd. Barclays initiated coverage on Full Truck Alliance in a research note on Thursday, February 9th. They issued an “equal weight” rating and a $8.00 price target on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Full Truck Alliance currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Full Truck Alliance Stock Performance

The company has a market cap of $6.59 billion, a P/E ratio of 42.00 and a beta of 0.07. The company has a fifty day moving average price of $6.64 and a two-hundred day moving average price of $7.45.

Full Truck Alliance (NYSE:YMM – Get Rating) last posted its quarterly earnings results on Wednesday, March 8th. The company reported $0.03 EPS for the quarter. Full Truck Alliance had a return on equity of 3.21% and a net margin of 14.04%. The business had revenue of $278.73 million during the quarter.

Institutional Investors Weigh In On Full Truck Alliance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise raised its position in Full Truck Alliance by 58.1% during the first quarter. Banque Cantonale Vaudoise now owns 3,882 shares of the company’s stock valued at $30,000 after purchasing an additional 1,427 shares in the last quarter. Royal Bank of Canada acquired a new position in Full Truck Alliance during the third quarter valued at approximately $30,000. Shen Neil Nanpeng acquired a new position in Full Truck Alliance during the first quarter valued at approximately $55,000. Tobam acquired a new position in Full Truck Alliance during the first quarter valued at approximately $57,000. Finally, XTX Topco Ltd acquired a new position in Full Truck Alliance during the first quarter valued at approximately $67,000. 36.69% of the stock is currently owned by institutional investors and hedge funds.

About Full Truck Alliance

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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 listing, matching, and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, electronic toll collection, and energy services.