Full Truck Alliance (NYSE:YMM) Shares Gap Up – Here’s Why

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.76, but opened at $11.48. Full Truck Alliance shares last traded at $11.86, with a volume of 4,035,519 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Full Truck Alliance from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays cut their price target on 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 Trading Up 12.5 %

The company has a 50 day simple moving average of $9.28 and a two-hundred day simple moving average of $8.45. The firm has a market capitalization of $12.75 billion, a P/E ratio of 25.62 and a beta of 0.28.

Institutional Trading of Full Truck Alliance

Several hedge funds have recently bought and sold shares of YMM. Tobam bought a new position in shares of Full Truck Alliance during the 2nd quarter valued at approximately $35,000. Blue Trust Inc. bought a new position in Full Truck Alliance during the second quarter valued at $38,000. Atomi Financial Group Inc. lifted its position in Full Truck Alliance by 12.4% during the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after purchasing an additional 1,329 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Full Truck Alliance in the 3rd quarter worth $151,000. Finally, Scientech Research LLC bought a new stake in shares of Full Truck Alliance in the 2nd quarter worth about $156,000. 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.