Full Truck Alliance (NYSE:YMM) Sees Strong Trading Volume – Here’s Why

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) saw strong 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group set a $13.00 price objective on Full Truck Alliance in a report on Monday, November 17th. Barclays reduced their price target on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings downgraded Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Full Truck Alliance from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $11.00 to $8.00 in a report on Monday. Finally, Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.71.

Full Truck Alliance Stock Performance

The stock has a market capitalization of $10.30 billion, a P/E ratio of 16.61 and a beta of 0.22. The stock has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $12.06.

Institutional Investors Weigh In On Full Truck Alliance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its position in shares of Full Truck Alliance by 642.0% during the second quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company’s stock valued at $45,000 after buying an additional 3,274 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Full Truck Alliance by 2,000.0% during the 4th quarter. CoreCap Advisors LLC now owns 4,200 shares of the company’s stock worth $45,000 after acquiring an additional 4,000 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Full Truck Alliance by 274.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock worth $46,000 after acquiring an additional 2,845 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Full Truck Alliance in the 3rd quarter worth approximately $51,000. Finally, Shen Neil Nanpeng purchased a new position in shares of Full Truck Alliance in the 3rd quarter valued at approximately $93,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Company Profile

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.