Full Truck Alliance (NYSE:YMM) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.77 and traded as low as $8.70. Full Truck Alliance shares last traded at $8.7350, with a volume of 7,910,713 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on YMM shares. UBS Group restated a “buy” rating and issued a $13.36 target price on shares of Full Truck Alliance in a report on Wednesday, August 5th. Weiss Ratings downgraded Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Finally, Wall Street Zen upgraded Full Truck Alliance from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of “Moderate Buy” and an average price target of $11.30.

Full Truck Alliance Price Performance

The company’s fifty day moving average price is $8.44 and its 200 day moving average price is $8.77. The company has a market cap of $9.11 billion, a PE ratio of 14.81, a P/E/G ratio of 0.80 and a beta of 0.25.

Full Truck Alliance (NYSE:YMM) last released its quarterly earnings results on Friday, August 14th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Full Truck Alliance had a net margin of 33.07% and a return on equity of 10.68%. The business had revenue of $497.73 million for the quarter, compared to analysts’ expectations of $463.13 million. On average, analysts forecast that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.71 EPS for the current year.

Full Truck Alliance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th were paid a $0.0840 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Wednesday, October 14th. Full Truck Alliance’s payout ratio is presently 55.93%.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC purchased a new stake in shares of Full Truck Alliance during the first quarter valued at approximately $25,000. Profund Advisors LLC lifted its holdings in Full Truck Alliance by 3.9% during the third quarter. Profund Advisors LLC now owns 118,469 shares of the company’s stock worth $980,000 after acquiring an additional 4,412 shares during the period. Vise Technologies Inc. boosted its position in Full Truck Alliance by 29.9% in the third quarter. Vise Technologies Inc. now owns 21,116 shares of the company’s stock worth $175,000 after purchasing an additional 4,862 shares during the last quarter. Rakuten Investment Management Inc. boosted its position in Full Truck Alliance by 16.0% in the third quarter. Rakuten Investment Management Inc. now owns 42,682 shares of the company’s stock worth $353,000 after purchasing an additional 5,898 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Full Truck Alliance by 2.7% in the second quarter. Handelsbanken Fonder AB now owns 275,182 shares of the company’s stock worth $2,234,000 after purchasing an additional 7,284 shares during the last quarter. 39.02% of the stock is owned by institutional investors.

About Full Truck Alliance

Full Truck Alliance Co. Ltd. operates a digital freight platform in China that connects businesses and other cargo shippers with truck drivers. Its platform helps users find and arrange road transportation, matching freight orders with available trucks. The company was formed in 2017 through the merger of Chinese freight platforms Yunmanman and Huochebang. Its services include freight matching and tools for arranging and managing shipments. Full Truck Alliance is focused on the Chinese market. Co-founder Zhang Hui serves as the company’s chairman and chief executive officer.