Full Truck Alliance (NYSE:YMM) Shares Gap Down – What’s Next?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down prior to trading on Thursday . The stock had previously closed at $10.82, but opened at $10.60. Full Truck Alliance shares last traded at $10.77, with a volume of 815,636 shares changing hands.

Analyst Upgrades and Downgrades

YMM has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of 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 report on Wednesday, December 11th. Citigroup boosted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Full Truck Alliance Trading Down 0.4 %

The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 25.67 and a beta of 0.28. The firm’s 50 day simple moving average is $10.04 and its 200-day simple moving average is $8.76.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in YMM. Franklin Resources Inc. grew its holdings in Full Truck Alliance by 31.5% during the third quarter. Franklin Resources Inc. now owns 277,966 shares of the company’s stock worth $2,613,000 after acquiring an additional 66,638 shares during the period. Tidal Investments LLC acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth $1,258,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Full Truck Alliance in the 3rd quarter valued at about $207,000. Geode Capital Management LLC lifted its stake in shares of Full Truck Alliance by 3.7% in the third quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock valued at $1,067,000 after purchasing an additional 4,235 shares during the period. Finally, ABS Direct Equity Fund LLC boosted its holdings in Full Truck Alliance by 36.7% during the third quarter. ABS Direct Equity Fund LLC now owns 487,400 shares of the company’s stock worth $4,391,000 after buying an additional 130,900 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.