Brokerages Set Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Price Target at $11.30

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.2956.

A number of research firms recently weighed in on YMM. Weiss Ratings upgraded Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.60 to $10.00 in a research note on Monday, June 29th. Bank of America initiated coverage on shares of Full Truck Alliance in a research note on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price objective on the stock. 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. Finally, Citigroup reiterated a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th.

Full Truck Alliance Stock Performance

NYSE YMM opened at $9.29 on Monday. The firm’s fifty day moving average price is $8.73 and its two-hundred day moving average price is $8.88. The stock has a market cap of $9.69 billion, a PE ratio of 16.30, a PEG ratio of 0.82 and a beta of 0.35. Full Truck Alliance has a fifty-two week low of $7.45 and a fifty-two week high of $14.07.

Full Truck Alliance Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a $0.084 dividend. The ex-dividend date was Tuesday, July 7th. This represents a yield of 201.0%. Full Truck Alliance’s dividend payout ratio (DPR) is 28.07%.

Institutional Investors Weigh In On Full Truck Alliance

Several large investors have recently made changes to their positions in YMM. Caitong International Asset Management Co. Ltd raised its position in shares of Full Truck Alliance by 150.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,937 shares of the company’s stock valued at $32,000 after purchasing an additional 1,762 shares during the period. Parallel Advisors LLC bought a new position in Full Truck Alliance in the 1st quarter worth approximately $25,000. Rockefeller Capital Management L.P. purchased a new position in Full Truck Alliance in the 4th quarter valued at approximately $39,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $46,000 after buying an additional 2,845 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Full Truck Alliance during the 3rd quarter valued at $51,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

About Full Truck Alliance

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.