Hsbc Global Res Upgrades Full Truck Alliance (NYSE:YMM) to “Strong-Buy”

Hsbc Global Res upgraded shares of Full Truck Alliance (NYSE:YMM) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on YMM. HSBC started coverage on Full Truck Alliance in a research note on Wednesday. They set a “buy” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $13.00 in a research note on Wednesday, December 11th. Finally, Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Full Truck Alliance has a consensus rating of “Buy” and a consensus target price of $13.25.

Full Truck Alliance Stock Up 0.8 %

NYSE:YMM opened at $11.77 on Wednesday. The firm has a market capitalization of $12.40 billion, a P/E ratio of 28.02 and a beta of 0.25. Full Truck Alliance has a 12-month low of $5.70 and a 12-month high of $13.03. The stock’s fifty day simple moving average is $11.49 and its 200-day simple moving average is $9.77.

Institutional Trading of Full Truck Alliance

Several hedge funds and other institutional investors have recently modified their holdings of the company. FIL Ltd raised its stake in shares of Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after purchasing an additional 23,468,794 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after purchasing an additional 10,383,716 shares during the period. Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock valued at $313,164,000 after acquiring an additional 295,301 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in shares of Full Truck Alliance by 7.4% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after acquiring an additional 1,802,420 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its holdings in shares of Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock valued at $218,732,000 after acquiring an additional 921,820 shares in the last quarter. Institutional investors and hedge funds 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.