Citigroup Forecasts Strong Price Appreciation for Full Truck Alliance (NYSE:YMM) Stock

Full Truck Alliance (NYSE:YMM) had its price objective upped by Citigroup from $12.00 to $13.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Barclays cut their price objective on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.00.

Full Truck Alliance Stock Down 3.4 %

Shares of Full Truck Alliance stock opened at $9.37 on Thursday. The stock has a market cap of $9.87 billion, a PE ratio of 22.31 and a beta of 0.23. The business has a fifty day simple moving average of $8.86 and a 200 day simple moving average of $8.37. Full Truck Alliance has a 12 month low of $5.70 and a 12 month high of $10.29.

Institutional Investors Weigh In On Full Truck Alliance

Several hedge funds have recently bought and sold shares of YMM. Tobam bought a new position in Full Truck Alliance during the 2nd quarter worth approximately $35,000. Blue Trust Inc. bought a new stake in Full Truck Alliance during the 2nd quarter worth approximately $38,000. Atomi Financial Group Inc. grew its holdings in Full Truck Alliance by 12.4% during the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after buying an additional 1,329 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Full Truck Alliance by 34.0% in the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $151,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.