Full Truck Alliance (NYSE:YMM) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Full Truck Alliance (NYSE:YMM) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on YMM. HSBC started coverage on Full Truck Alliance in a report on Wednesday. They set a “buy” rating and a $18.00 price target for the company. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th. Finally, Citigroup upped their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $13.25.

Full Truck Alliance Trading Up 0.6 %

YMM stock opened at $11.66 on Wednesday. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 27.75 and a beta of 0.25. The firm has a 50-day moving average of $11.48 and a two-hundred day moving average of $9.74. Full Truck Alliance has a 12 month low of $5.70 and a 12 month high of $13.03.

Institutional Investors Weigh In On Full Truck Alliance

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

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.