Full Truck Alliance (NYSE:YMM) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

Full Truck Alliance (NYSE:YMM) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $10.00 price objective on the stock, down from their prior price objective of $18.00. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 3.15% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a report on Thursday, March 6th. Barclays lifted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.80.

Full Truck Alliance Trading Up 4.7 %

YMM stock opened at $10.33 on Monday. The firm’s 50-day moving average is $12.19 and its two-hundred day moving average is $10.87. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 24.58 and a beta of 0.19. Full Truck Alliance has a 52 week low of $6.66 and a 52 week high of $13.85.

Institutional Investors Weigh In On Full Truck Alliance

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Full Truck Alliance by 244.4% during the 1st quarter. SG Americas Securities LLC now owns 2,463,812 shares of the company’s stock valued at $31,463,000 after purchasing an additional 1,748,386 shares during the period. TB Alternative Assets Ltd. boosted its position in Full Truck Alliance by 31.4% during the 1st quarter. TB Alternative Assets Ltd. now owns 530,454 shares of the company’s stock worth $6,774,000 after acquiring an additional 126,688 shares during the period. Myriad Asset Management US LP purchased a new position in Full Truck Alliance during the 1st quarter valued at about $2,496,000. Summit Global Investments acquired a new position in shares of Full Truck Alliance in the 1st quarter valued at about $339,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Full Truck Alliance in the fourth quarter worth approximately $16,578,000. Institutional investors and hedge funds 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.