Full Truck Alliance (NYSE:YMM) Shares Down 5.3% – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price fell 5.3% during mid-day trading on Tuesday . The stock traded as low as $11.98 and last traded at $12.12. 1,893,075 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 6,434,604 shares. The stock had previously closed at $12.80.

Analysts Set New Price Targets

Several research firms have issued reports on YMM. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup boosted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Full Truck Alliance Trading Down 5.4 %

The firm’s 50-day moving average price is $11.15 and its two-hundred day moving average price is $9.33. The stock has a market cap of $12.77 billion, a PE ratio of 28.85 and a beta of 0.25.

Institutional Investors Weigh In On Full Truck Alliance

Several hedge funds have recently modified their holdings of YMM. Blue Trust Inc. lifted its position in shares of Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock worth $90,000 after purchasing an additional 5,226 shares during the period. Polunin Capital Partners Ltd bought a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $29,632,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Full Truck Alliance by 20.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 420,000 shares of the company’s stock worth $3,784,000 after acquiring an additional 70,000 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Full Truck Alliance by 10.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,701,028 shares of the company’s stock valued at $33,346,000 after purchasing an additional 353,891 shares in the last quarter. Finally, First Beijing Investment Ltd acquired a new position in Full Truck Alliance during the 3rd quarter valued at approximately $123,804,000. Hedge funds and other institutional investors 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.