Full Truck Alliance (NYSE:YMM) Now Covered by HSBC

HSBC started coverage on shares of Full Truck Alliance (NYSE:YMM) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $18.00 target price on the stock.

Other analysts also recently issued research reports about the company. Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.25.

Full Truck Alliance Stock Performance

NYSE:YMM opened at $11.57 on Wednesday. Full Truck Alliance has a 52-week low of $5.70 and a 52-week high of $13.03. The stock has a fifty day moving average of $11.46 and a 200 day moving average of $9.73. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 27.55 and a beta of 0.25.

Institutional Investors Weigh In On Full Truck Alliance

A number of large investors have recently made changes to their positions in the business. FIL Ltd lifted its stake in Full Truck Alliance by 83.0% in the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock worth $559,725,000 after acquiring an additional 23,468,794 shares during the period. Aspex Management HK Ltd purchased a new stake in shares of Full Truck Alliance in the 4th quarter worth about $164,557,000. First Beijing Investment Ltd bought a new stake in shares of Full Truck Alliance during the 3rd quarter valued at about $123,804,000. JPMorgan Chase & Co. increased its position in shares of Full Truck Alliance by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after buying an additional 10,383,716 shares during the period. Finally, Norges Bank bought a new position in Full Truck Alliance in the fourth quarter worth about $101,649,000. 39.02% of the stock is currently owned by institutional investors.

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.