Full Truck Alliance (NYSE:YMM) Stock Price Up 4.5% – Still a Buy?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) traded up 4.5% during trading on Tuesday . The stock traded as high as $9.28 and last traded at $9.27. 1,684,867 shares were traded during mid-day trading, a decline of 81% from the average session volume of 8,677,910 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Separately, Barclays decreased their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd.

Full Truck Alliance Stock Performance

The business has a 50 day moving average of $8.15 and a 200-day moving average of $8.26. The company has a market capitalization of $9.51 billion, a P/E ratio of 25.80 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $380.38 million for the quarter, compared to analyst estimates of $369.24 million. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. As a group, equities analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Full Truck Alliance

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Full Truck Alliance by 109.5% during the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock valued at $90,000 after purchasing an additional 5,226 shares during the last quarter. Perpetual Ltd boosted its stake in Full Truck Alliance by 0.6% in the third quarter. Perpetual Ltd now owns 1,864,459 shares of the company’s stock worth $16,799,000 after buying an additional 10,626 shares in the last quarter. SG Americas Securities LLC bought a new position in Full Truck Alliance during the third quarter valued at approximately $10,814,000. Maple Brown Abbott Ltd purchased a new position in shares of Full Truck Alliance during the third quarter worth approximately $517,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Full Truck Alliance by 1,220.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after acquiring an additional 1,834,900 shares during the last quarter. 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.