Full Truck Alliance (NYSE:YMM) Trading Up 5.7% – Should You Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price shot up 5.7% during trading on Wednesday . The stock traded as high as $12.47 and last traded at $12.46. 2,228,026 shares changed hands during trading, a decline of 75% from the average session volume of 9,016,520 shares. The stock had previously closed at $11.78.

Wall Street Analysts Forecast Growth

YMM has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC began coverage on Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price on the stock. Citigroup lowered their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. cut shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Full Truck Alliance presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Full Truck Alliance Trading Up 2.9%

The company’s fifty day moving average is $11.57 and its 200-day moving average is $11.36. The firm has a market capitalization of $12.68 billion, a P/E ratio of 28.89 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, April 17th. Investors of record on Monday, April 7th were given a dividend of $0.1444 per share. The ex-dividend date was Monday, April 7th. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance’s dividend payout ratio (DPR) is 32.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of YMM. Acadian Asset Management LLC acquired a new stake in shares of Full Truck Alliance during the 1st quarter worth about $2,691,000. Bayforest Capital Ltd grew its stake in Full Truck Alliance by 51.9% during the first quarter. Bayforest Capital Ltd now owns 43,607 shares of the company’s stock worth $557,000 after buying an additional 14,908 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Full Truck Alliance during the first quarter worth approximately $1,033,000. Goldman Sachs Group Inc. raised its stake in shares of Full Truck Alliance by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 10,761,409 shares of the company’s stock valued at $137,423,000 after acquiring an additional 935,344 shares during the last quarter. Finally, KADENSA CAPITAL Ltd boosted its holdings in shares of Full Truck Alliance by 185.0% in the 1st quarter. KADENSA CAPITAL Ltd now owns 1,288,269 shares of the company’s stock worth $16,451,000 after acquiring an additional 836,189 shares in the last quarter. 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.