Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.4286.

A number of equities research analysts have recently commented on YMM shares. Barclays dropped their price target on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research note on Monday, November 17th. Jefferies Financial Group set a $13.00 price objective on shares of Full Truck Alliance in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Full Truck Alliance in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Full Truck Alliance

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Full Truck Alliance by 172.4% during the first quarter. Royal Bank of Canada now owns 34,765 shares of the company’s stock worth $444,000 after purchasing an additional 22,001 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Full Truck Alliance during the 1st quarter worth about $2,691,000. Swedbank AB acquired a new position in shares of Full Truck Alliance during the 1st quarter worth about $4,470,000. Exchange Traded Concepts LLC acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth about $2,914,000. Finally, ABS Direct Equity Fund LLC increased its position in shares of Full Truck Alliance by 391.6% in the second quarter. ABS Direct Equity Fund LLC now owns 496,480 shares of the company’s stock valued at $5,863,000 after acquiring an additional 395,480 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Stock Down 1.1%

YMM opened at $10.46 on Friday. The stock has a market cap of $10.94 billion, a P/E ratio of 19.73 and a beta of 0.22. Full Truck Alliance has a 12 month low of $9.45 and a 12 month high of $14.07. The company has a fifty day simple moving average of $11.43 and a 200 day simple moving average of $12.11.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.