Short Interest in Full Truck Alliance Co. Ltd. (NYSE:YMM) Drops By 16.5%

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 39,220,000 shares, a drop of 16.5% from the June 30th total of 46,970,000 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily volume of 9,130,000 shares, the short-interest ratio is currently 4.3 days.

Full Truck Alliance Price Performance

Shares of YMM traded up $0.03 during mid-day trading on Friday, hitting $7.91. 4,086,455 shares of the company’s stock traded hands, compared to its average volume of 7,809,584. The business’s 50-day moving average price is $8.53 and its 200-day moving average price is $7.71. Full Truck Alliance has a 1 year low of $5.70 and a 1 year high of $9.68.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Full Truck Alliance had a net margin of 26.48% and a return on equity of 7.23%. The business had revenue of $314.21 million for the quarter, compared to the consensus estimate of $301.68 million. On average, equities research analysts predict that Full Truck Alliance will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in Full Truck Alliance during the 2nd quarter valued at approximately $38,000. Atomi Financial Group Inc. raised its position in shares of Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after acquiring an additional 1,329 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Full Truck Alliance by 34.0% in the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares during the period. Barometer Capital Management Inc. bought a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $122,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Full Truck Alliance in the first quarter worth $145,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Daiwa America upgraded shares of Full Truck Alliance to a “strong-buy” rating in a report on Friday, May 10th. Barclays upped their price objective on shares of Full Truck Alliance from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th.

About Full Truck Alliance

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.