Barclays Lowers Full Truck Alliance (NYSE:YMM) Price Target to $12.00

Full Truck Alliance (NYSE:YMM) had its target price lowered by equities researchers at Barclays from $13.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 10.03% from the company’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group set a $13.00 price target on Full Truck Alliance in a research report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Full Truck Alliance in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Full Truck Alliance currently has a consensus rating of “Moderate Buy” and an average target price of $14.43.

Full Truck Alliance Stock Performance

YMM opened at $10.91 on Wednesday. The company has a fifty day moving average of $12.89 and a 200 day moving average of $12.34. Full Truck Alliance has a fifty-two week low of $8.89 and a fifty-two week high of $14.07. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 20.39 and a beta of 0.20.

Institutional Trading of Full Truck Alliance

A number of large investors have recently modified their holdings of the company. First Beijing Investment Ltd increased its holdings in Full Truck Alliance by 73.8% during the 3rd quarter. First Beijing Investment Ltd now owns 68,645,580 shares of the company’s stock worth $890,333,000 after purchasing an additional 29,150,926 shares during the period. Invesco Ltd. grew its position in shares of Full Truck Alliance by 66.4% during the 3rd quarter. Invesco Ltd. now owns 54,223,349 shares of the company’s stock worth $703,277,000 after buying an additional 21,628,993 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Full Truck Alliance by 2,789.6% during the 3rd quarter. Schroder Investment Management Group now owns 33,333,051 shares of the company’s stock worth $432,330,000 after buying an additional 32,179,501 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Full Truck Alliance by 1.1% during the third quarter. Vanguard Group Inc. now owns 32,543,487 shares of the company’s stock valued at $422,089,000 after buying an additional 353,840 shares during the period. Finally, Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Full Truck Alliance by 10.8% in the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 28,794,527 shares of the company’s stock valued at $340,063,000 after acquiring an additional 2,799,386 shares in the last quarter. 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.