Full Truck Alliance (NYSE:YMM) Rating Increased to Strong-Buy at Hsbc Global Res

Full Truck Alliance (NYSE:YMM) was upgraded by Hsbc Global Res to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. HSBC began coverage on shares of Full Truck Alliance in a report on Wednesday. They set a “buy” rating and a $18.00 price target on the stock. Citigroup boosted their target price on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance presently has an average rating of “Buy” and a consensus target price of $13.25.

Full Truck Alliance Stock Up 0.6 %

Shares of NYSE:YMM opened at $11.66 on Wednesday. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 27.75 and a beta of 0.25. The business’s 50 day moving average is $11.48 and its 200 day moving average is $9.74. Full Truck Alliance has a 12-month low of $5.70 and a 12-month high of $13.03.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently bought and sold shares of the company. FIL Ltd raised its position in shares of Full Truck Alliance by 83.0% in the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after purchasing an additional 23,468,794 shares during the period. JPMorgan Chase & Co. raised its stake in Full Truck Alliance by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after purchasing an additional 10,383,716 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Full Truck Alliance by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock valued at $313,164,000 after purchasing an additional 295,301 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Full Truck Alliance by 7.4% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after buying an additional 1,802,420 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its position in Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after buying an additional 921,820 shares during the last quarter. 39.02% of the stock is owned by institutional investors.

About Full Truck Alliance

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.