Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM – Get Rating) gapped up before the market opened on Thursday . The stock had previously closed at $8.66, but opened at $9.13. Full Truck Alliance shares last traded at $9.43, with a volume of 66,524 shares trading hands.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Full Truck Alliance from a “d+” rating to a “c-” rating in a research note on Wednesday, December 7th. Jefferies Financial Group started coverage on shares of Full Truck Alliance in a research report on Thursday, December 1st. They set a “buy” rating and a $11.00 price objective for the company.
Full Truck Alliance Stock Up 1.3 %
The stock’s 50-day moving average price is $8.31 and its 200 day moving average price is $7.49. The firm has a market cap of $10.25 billion and a price-to-earnings ratio of -55.53.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new position in Full Truck Alliance in the third quarter worth about $30,000. XTX Topco Ltd acquired a new position in Full Truck Alliance in the first quarter worth about $67,000. Jasper Ridge Partners L.P. acquired a new position in Full Truck Alliance in the first quarter worth about $69,000. Vanguard Personalized Indexing Management LLC raised its position in Full Truck Alliance by 23.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,117 shares of the company’s stock worth $119,000 after purchasing an additional 2,514 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Full Truck Alliance during the second quarter worth approximately $121,000. Institutional investors and hedge funds own 36.69% 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 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.
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