Full Truck Alliance (NYSE:YMM) Shares Down 7.6% – What’s Next?

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)’s stock price was down 7.6% during trading on Wednesday . The stock traded as low as $10.70 and last traded at $10.7240. Approximately 5,668,506 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 6,898,003 shares. The stock had previously closed at $11.60.

Analyst Ratings Changes

A number of research firms have weighed in on YMM. Jefferies Financial Group set a $13.00 target price on shares of Full Truck Alliance in a research note on Monday, November 17th. Morgan Stanley set a $14.00 price objective on Full Truck Alliance in a report on Monday, November 17th. Barclays lowered their target price on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Full Truck Alliance in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.43.

Full Truck Alliance Price Performance

The stock has a 50-day moving average price of $11.56 and a 200-day moving average price of $12.15. The company has a market capitalization of $11.33 billion, a P/E ratio of 20.44 and a beta of 0.22.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amiral Gestion grew its holdings in shares of Full Truck Alliance by 106.8% during the third quarter. Amiral Gestion now owns 455,000 shares of the company’s stock valued at $5,901,000 after buying an additional 235,000 shares during the last quarter. Alkeon Capital Management LLC lifted its position in Full Truck Alliance by 5.7% in the 2nd quarter. Alkeon Capital Management LLC now owns 14,698,535 shares of the company’s stock valued at $173,590,000 after acquiring an additional 790,000 shares in the last quarter. Prudential PLC lifted its position in Full Truck Alliance by 29.3% in the 2nd quarter. Prudential PLC now owns 105,812 shares of the company’s stock valued at $1,250,000 after acquiring an additional 23,981 shares in the last quarter. ABN Amro Investment Solutions acquired a new position in Full Truck Alliance during the 2nd quarter valued at about $1,962,000. Finally, Alpine Investment Management Ltd bought a new stake in Full Truck Alliance during the 2nd quarter worth approximately $54,303,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.