Full Truck Alliance (NYSE:YMM) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Full Truck Alliance (NYSE:YMM) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. HSBC started coverage on Full Truck Alliance in a report on Wednesday. They issued a “buy” rating and a $18.00 target price for the company. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $13.00 in a research report on Wednesday, December 11th. Finally, Citigroup increased their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Full Truck Alliance currently has an average rating of “Buy” and a consensus target price of $13.25.

Full Truck Alliance Trading Up 0.8 %

Shares of YMM opened at $11.77 on Wednesday. Full Truck Alliance has a 1 year low of $5.70 and a 1 year high of $13.03. The stock has a 50 day simple moving average of $11.49 and a 200-day simple moving average of $9.77. The stock has a market cap of $12.40 billion, a PE ratio of 28.02 and a beta of 0.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FIL Ltd boosted its position in Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after buying an additional 23,468,794 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after buying an additional 10,383,716 shares during the last quarter. Vanguard Group Inc. boosted its position in Full Truck Alliance by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock valued at $313,164,000 after buying an additional 295,301 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its position in Full Truck Alliance by 7.4% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after buying an additional 1,802,420 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its position in Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock valued at $218,732,000 after buying an additional 921,820 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors.

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.