Stock Traders Buy Large Volume of Put Options on Full Truck Alliance (NYSE:YMM)

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 3,002 put options on the stock. This is an increase of approximately 328% compared to the average volume of 701 put options.

Full Truck Alliance Price Performance

Full Truck Alliance stock traded up $0.05 during mid-day trading on Friday, reaching $9.85. The stock had a trading volume of 10,658,340 shares, compared to its average volume of 9,796,607. Full Truck Alliance has a one year low of $9.45 and a one year high of $14.07. The company has a 50-day moving average price of $11.16 and a two-hundred day moving average price of $12.05. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 18.59 and a beta of 0.22.

Hedge Funds Weigh In On Full Truck Alliance

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on YMM shares. Barclays lowered 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. JPMorgan Chase & Co. cut Full Truck Alliance from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $8.00 in a report on Monday, January 12th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research note on Monday, November 17th. Weiss Ratings lowered shares of Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Jefferies Financial Group set a $13.00 target price on Full Truck Alliance in a report on Monday, November 17th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Full Truck Alliance currently has an average rating of “Moderate Buy” and an average target price of $12.71.

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.