Full Truck Alliance (NYSE:YMM) Shares Gap Down – Here’s Why

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down prior to trading on Friday . The stock had previously closed at $12.53, but opened at $11.33. Full Truck Alliance shares last traded at $11.19, with a volume of 3,654,701 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on YMM. Barclays raised their target price on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. Citigroup upped their target price on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, HSBC began coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance currently has a consensus rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Stock Performance

The firm’s 50 day moving average is $12.42 and its two-hundred day moving average is $10.70. The stock has a market capitalization of $11.55 billion, a PE ratio of 26.11 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be given a dividend of $0.1444 per share. The ex-dividend date is Monday, April 7th. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. This represents a dividend yield of 0.9%. Full Truck Alliance’s payout ratio is currently 39.02%.

Institutional Investors Weigh In On Full Truck Alliance

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Full Truck Alliance during the 4th quarter worth about $64,000. Townsquare Capital LLC acquired a new position in Full Truck Alliance in the fourth quarter valued at $111,000. Wolverine Trading LLC acquired a new stake in shares of Full Truck Alliance during the fourth quarter worth about $115,000. Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $130,000. Finally, Truist Financial Corp acquired a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $143,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

About Full Truck Alliance

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.