Full Truck Alliance (NYSE:YMM) Price Target Cut to $7.00

Full Truck Alliance (NYSE:YMM) had its target price lowered by analysts at Barclays from $9.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential downside of 7.04% from the stock’s previous close.

Separately, Daiwa America raised shares of Full Truck Alliance to a “strong-buy” rating in a research report on Friday, May 10th.

Full Truck Alliance Stock Down 0.9 %

Shares of NYSE YMM opened at $7.53 on Friday. The business has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.82. Full Truck Alliance has a fifty-two week low of $5.70 and a fifty-two week high of $9.68.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after purchasing an additional 170,657 shares during the last quarter. Mubadala Investment Co PJSC grew its stake in shares of Full Truck Alliance by 45.7% during the first quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock worth $121,966,000 after buying an additional 5,263,157 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Full Truck Alliance by 2.8% during the first quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock worth $85,822,000 after buying an additional 317,980 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Full Truck Alliance by 2.3% during the first quarter. Bamco Inc. NY now owns 10,819,188 shares of the company’s stock worth $78,655,000 after buying an additional 238,622 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Full Truck Alliance in the 4th quarter valued at $64,936,000. Institutional investors and hedge funds 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.