Full Truck Alliance (NYSE:YMM) Trading 7.1% Higher – Time to Buy?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) shot up 7.1% on Monday . The stock traded as high as $10.63 and last traded at $10.36. 3,780,423 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 9,187,182 shares. The stock had previously closed at $9.67.

Analyst Ratings Changes

YMM has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays upped 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 report on Monday, March 10th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. HSBC began coverage on Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Monday. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Full Truck Alliance has an average rating of “Buy” and an average target price of $14.80.

Full Truck Alliance Stock Up 4.7 %

The firm has a market capitalization of $10.88 billion, a PE ratio of 24.58 and a beta of 0.19. The firm’s 50-day simple moving average is $12.19 and its 200-day simple moving average is $10.87.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. This represents a yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio (DPR) is presently 39.02%.

Institutional Trading of Full Truck Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of YMM. SG Americas Securities LLC grew its holdings in shares of Full Truck Alliance by 244.4% in the first quarter. SG Americas Securities LLC now owns 2,463,812 shares of the company’s stock worth $31,463,000 after purchasing an additional 1,748,386 shares during the last quarter. TB Alternative Assets Ltd. grew its holdings in Full Truck Alliance by 31.4% in the 1st quarter. TB Alternative Assets Ltd. now owns 530,454 shares of the company’s stock worth $6,774,000 after acquiring an additional 126,688 shares during the last quarter. Myriad Asset Management US LP purchased a new position in shares of Full Truck Alliance in the first quarter valued at about $2,496,000. Summit Global Investments bought a new position in shares of Full Truck Alliance during the first quarter valued at about $339,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth about $16,578,000. Institutional investors own 39.02% of the company’s stock.

About Full Truck Alliance

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.