Full Truck Alliance (NYSE:YMM) Trading 4.5% Higher – Here’s Why

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) shot up 4.5% on Tuesday . The stock traded as high as $9.28 and last traded at $9.27. 1,684,867 shares were traded during trading, a decline of 81% from the average session volume of 8,677,910 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

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

Full Truck Alliance Stock Performance

The company’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $8.26. The firm has a market cap of $9.51 billion, a PE ratio of 25.80 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last posted its earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. On average, analysts expect that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds have recently made changes to their positions in YMM. Vanguard Group Inc. boosted its holdings in Full Truck Alliance by 0.7% in the first quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after acquiring an additional 170,657 shares in the last quarter. Mubadala Investment Co PJSC lifted its position in shares of Full Truck Alliance by 45.7% in the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock worth $121,966,000 after purchasing an additional 5,263,157 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Full Truck Alliance by 2.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock valued at $85,822,000 after purchasing an additional 317,980 shares in the last quarter. Bamco Inc. NY increased its position 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 valued at $78,655,000 after buying an additional 238,622 shares during the period. Finally, Sylebra Capital LLC raised its stake in Full Truck Alliance by 57.9% in the second quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock worth $64,416,000 after buying an additional 2,939,456 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

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.