Full Truck Alliance (NYSE:YMM) Sees Large Volume Increase - What's Next?
Full Truck Alliance (NYSE:YMM) experienced a 32% increase in trading volume, with 17,045,335 shares traded. The stock price fell to $9.8050 from a previous close of $10.09. Analysts have set new price targets, with Barclays lowering theirs to $12.00 and JPMorgan downgrading to $8.00. The company has a market cap of $10.25 billion and a consensus rating of "Moderate Buy" with an average price target of $12.71. Institutional investors hold 39.02% of the stock, reflecting ongoing interest in the digital freight platform.
Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Get Free Report) shares saw an uptick in trading volume on Wednesday . 17,045,335 shares were traded during trading, an increase of 32% from the previous session's volume of 12,866,128 shares.The stock last traded at $9.8050 and had previously closed at $10.09.
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Analysts Set New Price Targets
YMM has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Full Truck Alliance from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 19th. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $11.00 to $8.00 in a research report on Monday. Industrial Alliance Securities set a $8.00 target price on Full Truck Alliance in a research report on Monday. Morgan Stanley set a $14.00 price target on Full Truck Alliance in a research note on Monday, November 17th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Full Truck Alliance in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.71.
Read Our Latest Stock Report on YMM
Full Truck Alliance Stock Down 2.8%
The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 18.50 and a beta of 0.22. The company's 50-day moving average price is $11.32 and its 200-day moving average price is $12.09.
Hedge Funds Weigh In On Full Truck Alliance
Several hedge funds and other institutional investors have recently made changes to their positions in YMM. Compound Planning Inc. boosted its stake in shares of Full Truck Alliance by 7.0% in the third quarter. Compound Planning Inc. now owns 15,948 shares of the company's stock worth $207,000 after acquiring an additional 1,048 shares during the last quarter. CI Investments Inc. lifted its holdings in Full Truck Alliance by 10.7% in the 3rd quarter. CI Investments Inc. now owns 10,924 shares of the company's stock valued at $142,000 after purchasing an additional 1,052 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Full Truck Alliance by 0.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 248,174 shares of the company's stock valued at $3,219,000 after purchasing an additional 1,410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Full Truck Alliance by 9.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,314 shares of the company's stock worth $311,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in shares of Full Truck Alliance by 12.1% in the third quarter. Parnassus Investments LLC now owns 21,547 shares of the company's stock worth $279,000 after buying an additional 2,333 shares in the last quarter. Hedge funds and other institutional investors own 39.02% of the company's stock.
About Full Truck Alliance
(Get Free Report)Full Truck Alliance NYSE: YMM operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.
The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.
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