Full Truck Alliance (NYSE:YMM) Trading Up 4.5% – Here’s Why

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

Analyst Ratings Changes

Separately, Barclays reduced 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 report on Friday, August 23rd.

Full Truck Alliance Price Performance

The company has a market cap of $9.66 billion, a P/E ratio of 28.72 and a beta of 0.23. The business’s 50 day moving average price is $8.09 and its 200-day moving average price is $8.24.

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

Institutional Trading of Full Truck Alliance

Hedge funds have recently modified their holdings of the stock. Tobam bought a new stake in Full Truck Alliance during the 2nd quarter worth about $35,000. Blue Trust Inc. acquired a new position in Full Truck Alliance in the second quarter valued at approximately $38,000. Atomi Financial Group Inc. boosted its stake in Full Truck Alliance by 12.4% in the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after acquiring an additional 1,329 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Full Truck Alliance by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after acquiring an additional 3,421 shares during the last quarter. Finally, Scientech Research LLC bought a new stake in Full Truck Alliance in the second quarter valued at about $156,000. 39.02% of the stock is owned by institutional investors.

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.