Full Truck Alliance (NYSE:YMM) Cut to “Neutral” at Daiwa Securities Group

Full Truck Alliance (NYSE:YMM) was downgraded by stock analysts at Daiwa Securities Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $9.00 price objective on the stock. Daiwa Securities Group’s price objective suggests a potential upside of 1.64% from the company’s previous close.

YMM has been the topic of several other research reports. Weiss Ratings cut shares of Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 13th. Barclays dropped 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 report on Wednesday, November 19th. Jefferies Financial Group set a $13.00 price target on shares of Full Truck Alliance in a research report on Monday, November 17th. iA Financial set a $8.00 price target on shares of Full Truck Alliance in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. cut Full Truck Alliance from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $11.00 to $8.00 in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.43.

Full Truck Alliance Price Performance

Full Truck Alliance stock traded down $0.13 during trading hours on Friday, reaching $8.86. The company had a trading volume of 4,962,921 shares, compared to its average volume of 9,116,891. The company has a 50-day moving average price of $9.82 and a 200 day moving average price of $11.45. Full Truck Alliance has a 12-month low of $8.68 and a 12-month high of $14.07. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 16.59 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. Full Truck Alliance had a net margin of 31.92% and a return on equity of 11.33%. The business had revenue of $456.32 million for the quarter, compared to analyst estimates of $3.13 billion. As a group, research analysts expect that Full Truck Alliance will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Several large investors have recently made changes to their positions in YMM. Caitong International Asset Management Co. Ltd boosted its holdings in Full Truck Alliance by 150.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,937 shares of the company’s stock worth $32,000 after acquiring an additional 1,762 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Full Truck Alliance by 274.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock valued at $46,000 after purchasing an additional 2,845 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Full Truck Alliance in the 3rd quarter worth $51,000. Banque de Luxembourg S.A. bought a new stake in shares of Full Truck Alliance during the 4th quarter valued at about $44,000. Finally, CoreCap Advisors LLC increased its position in shares of Full Truck Alliance by 2,000.0% during the 4th quarter. CoreCap Advisors LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 4,000 shares during the last quarter. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

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.