Full Truck Alliance (NYSE:YMM) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Full Truck Alliance (NYSE:YMM) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $18.00 price target on the stock, up from their prior price target of $13.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 35.29% from the company’s current price.

Other analysts also recently issued reports about the company. HSBC assumed coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective for the company. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Citigroup raised their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $14.50.

Full Truck Alliance Stock Performance

YMM opened at $13.31 on Thursday. The firm has a market cap of $14.02 billion, a P/E ratio of 31.68 and a beta of 0.25. Full Truck Alliance has a 52-week low of $5.70 and a 52-week high of $13.33. The business’s fifty day moving average is $11.54 and its 200-day moving average is $9.88.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of YMM. Y Intercept Hong Kong Ltd bought a new stake in Full Truck Alliance during the third quarter worth $3,525,000. Charles Schwab Investment Management Inc. raised its stake in shares of Full Truck Alliance by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock valued at $8,217,000 after buying an additional 100,080 shares during the period. XTX Topco Ltd raised its stake in shares of Full Truck Alliance by 318.2% in the third quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after buying an additional 125,001 shares during the period. IMC Chicago LLC bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at $263,000. Finally, State Street Corp raised its stake in shares of Full Truck Alliance by 6.4% in the third quarter. State Street Corp now owns 2,609,508 shares of the company’s stock valued at $23,512,000 after buying an additional 155,834 shares during the period. Hedge funds and other institutional investors own 39.02% of the company’s stock.

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.