Short Interest in Full Truck Alliance Co. Ltd. (NYSE:YMM) Decreases By 16.5%

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 39,220,000 shares, a decline of 16.5% from the June 30th total of 46,970,000 shares. Based on an average daily volume of 9,130,000 shares, the days-to-cover ratio is presently 4.3 days. Currently, 4.6% of the company’s shares are short sold.

Full Truck Alliance Price Performance

YMM traded up $0.03 during midday trading on Friday, reaching $7.91. 4,086,455 shares of the company were exchanged, compared to its average volume of 7,809,584. Full Truck Alliance has a one year low of $5.70 and a one year high of $9.68. The stock’s 50-day simple moving average is $8.53 and its 200 day simple moving average is $7.71.

Full Truck Alliance (NYSE:YMM) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Full Truck Alliance had a net margin of 26.48% and a return on equity of 7.23%. The business had revenue of $314.21 million for the quarter, compared to analyst estimates of $301.68 million. On average, equities analysts predict that Full Truck Alliance will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on YMM shares. Barclays lifted their price target on shares of Full Truck Alliance from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 24th. Daiwa America raised shares of Full Truck Alliance to a “strong-buy” rating in a report on Friday, May 10th.

Hedge Funds Weigh In On Full Truck Alliance

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. bought a new position in Full Truck Alliance during the second quarter worth about $38,000. Atomi Financial Group Inc. lifted its holdings in shares of Full Truck Alliance by 12.4% during the 2nd 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 in the last quarter. Advisors Asset Management Inc. grew its position in shares of Full Truck Alliance by 34.0% in the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares during the period. Barometer Capital Management Inc. bought a new stake in Full Truck Alliance during the 4th quarter worth approximately $122,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Full Truck Alliance during the 1st quarter worth approximately $145,000. Institutional investors and hedge funds 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.