Full Truck Alliance (NYSE:YMM) Shares Gap Down – What’s Next?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down before the market opened on Wednesday . The stock had previously closed at $11.92, but opened at $11.50. Full Truck Alliance shares last traded at $11.64, with a volume of 1,218,346 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on YMM. Barclays decreased their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $13.00 in a research report on Wednesday. Finally, Citigroup increased their target price on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday.

Full Truck Alliance Stock Down 2.2 %

The firm has a market capitalization of $11.85 billion, a PE ratio of 26.79 and a beta of 0.28. The business has a 50-day moving average price of $9.47 and a 200-day moving average price of $8.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Full Truck Alliance by 31.5% during the 3rd quarter. Franklin Resources Inc. now owns 277,966 shares of the company’s stock worth $2,613,000 after purchasing an additional 66,638 shares during the period. Tidal Investments LLC acquired a new stake in shares of Full Truck Alliance during the third quarter valued at about $1,258,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Full Truck Alliance in the 3rd quarter valued at approximately $207,000. Geode Capital Management LLC lifted its holdings in shares of Full Truck Alliance by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock worth $1,067,000 after acquiring an additional 4,235 shares during the last quarter. Finally, ABS Direct Equity Fund LLC boosted its position in shares of Full Truck Alliance by 36.7% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 487,400 shares of the company’s stock worth $4,391,000 after purchasing an additional 130,900 shares during the period. Institutional investors and hedge funds own 39.02% of the company’s stock.

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.