Full Truck Alliance (NYSE:YMM) Shares Up 6.7% – What’s Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price was up 6.7% on Friday . The stock traded as high as $10.16 and last traded at $10.14. Approximately 14,727,798 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 8,579,029 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Separately, Barclays reduced their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd.

Full Truck Alliance Stock Up 5.8 %

The stock’s fifty day moving average price is $7.64 and its two-hundred day moving average price is $8.07. The company has a market capitalization of $10.59 billion, a PE ratio of 31.31 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The business had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. On average, equities research analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Tobam purchased a new position in shares of Full Truck Alliance during the 2nd quarter valued at $35,000. Blue Trust Inc. bought a new position in Full Truck Alliance in the 2nd quarter worth about $38,000. Atomi Financial Group Inc. lifted its position in shares of Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after purchasing an additional 1,329 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Full Truck Alliance by 34.0% in the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock worth $98,000 after purchasing an additional 3,421 shares during the period. Finally, Barometer Capital Management Inc. purchased a new stake in Full Truck Alliance during the fourth quarter valued at approximately $122,000. Hedge funds and other institutional investors 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.