Full Truck Alliance (NYSE:YMM) Shares Gap Down – Should You Sell?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down before the market opened on Wednesday . The stock had previously closed at $9.75, but opened at $9.35. Full Truck Alliance shares last traded at $9.44, with a volume of 1,433,548 shares trading hands.

Wall Street Analyst Weigh In

Separately, Barclays reduced their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd.

Full Truck Alliance Stock Performance

The firm has a 50 day moving average of $7.84 and a 200-day moving average of $8.15. The stock has a market capitalization of $9.67 billion, a PE ratio of 28.69 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The business had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. On average, sell-side analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Full Truck Alliance during the fourth quarter valued at $203,000. Mubadala Investment Co PJSC acquired a new stake in shares of Full Truck Alliance during the 4th quarter valued at about $80,709,000. Vanguard Group Inc. grew its stake in shares of Full Truck Alliance by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,527,565 shares of the company’s stock valued at $178,948,000 after buying an additional 163,328 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Full Truck Alliance in the 4th quarter valued at approximately $229,000. Finally, Renaissance Capital LLC increased its holdings in Full Truck Alliance by 3.0% in the first quarter. Renaissance Capital LLC now owns 440,635 shares of the company’s stock worth $3,203,000 after buying an additional 12,796 shares during the last quarter. 39.02% of the stock is currently owned by hedge funds and other 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.