Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Sees Large Decrease in Short Interest

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 20,308,803 shares, a drop of 18.3% from the December 15th total of 24,859,838 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average trading volume of 4,258,250 shares, the short-interest ratio is currently 4.8 days. Based on an average trading volume of 4,258,250 shares, the short-interest ratio is currently 4.8 days. Currently, 2.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several brokerages have commented on YMM. Barclays lowered their target price on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings lowered shares of Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 13th. Industrial Alliance Securities set a $8.00 price objective on shares of Full Truck Alliance in a research report on Monday, January 12th. JPMorgan Chase & Co. downgraded Full Truck Alliance from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $8.00 in a research note on Monday, January 12th. Finally, Jefferies Financial Group set a $13.00 target price on Full Truck Alliance in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in Full Truck Alliance by 172.4% in the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company’s stock valued at $444,000 after buying an additional 22,001 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Full Truck Alliance during the 2nd quarter worth approximately $2,914,000. ABS Direct Equity Fund LLC raised its holdings 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 purchasing an additional 395,480 shares during the last quarter. Truist Financial Corp lifted its position in shares of Full Truck Alliance by 25.6% in the second quarter. Truist Financial Corp now owns 31,132 shares of the company’s stock worth $368,000 after purchasing an additional 6,344 shares in the last quarter. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of Full Truck Alliance in the second quarter worth $3,130,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Up 0.5%

Shares of NYSE:YMM traded up $0.05 during midday trading on Monday, reaching $9.85. 10,658,340 shares of the company were exchanged, compared to its average volume of 9,796,607. The firm has a market cap of $10.30 billion, a PE ratio of 18.59 and a beta of 0.22. Full Truck Alliance has a fifty-two week low of $9.45 and a fifty-two week high of $14.07. The stock has a fifty day simple moving average of $11.16 and a two-hundred day simple moving average of $12.05.

About Full Truck Alliance

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.