Full Truck Alliance (NYSE:YMM) Stock Price Down 2.9% on Analyst Downgrade

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)’s share price fell 2.9% during trading on Thursday after Barclays lowered their price target on the stock from $13.00 to $12.00. Barclays currently has an equal weight rating on the stock. Full Truck Alliance traded as low as $10.69 and last traded at $10.7050. 803,552 shares traded hands during trading, a decline of 91% from the average session volume of 8,583,564 shares. The stock had previously closed at $11.03.

A number of other research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Full Truck Alliance in a report on Wednesday, October 8th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research note on Monday. Finally, Jefferies Financial Group set a $13.00 price target 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 given a Hold rating to the company’s stock. According to MarketBeat, Full Truck Alliance presently has an average rating of “Moderate Buy” and a consensus target price of $14.43.

Institutional Trading of Full Truck Alliance

Several large investors have recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new position in shares of Full Truck Alliance during the 1st quarter worth $29,000. Brooklyn Investment Group increased its holdings in Full Truck Alliance by 495.4% during the 1st quarter. Brooklyn Investment Group now owns 2,459 shares of the company’s stock valued at $31,000 after acquiring an additional 2,046 shares in the last quarter. US Bancorp DE acquired a new position in Full Truck Alliance during the first quarter worth about $40,000. Hantz Financial Services Inc. raised its position in Full Truck Alliance by 642.0% during the second quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company’s stock worth $45,000 after acquiring an additional 3,274 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Full Truck Alliance by 274.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock valued at $46,000 after purchasing an additional 2,845 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Price Performance

The firm’s 50-day moving average price is $12.84 and its 200 day moving average price is $12.33. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 20.16 and a beta of 0.20.

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.