Full Truck Alliance (NYSE:YMM) Sets New 52-Week Low – Here’s Why

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.04 and last traded at $8.0350, with a volume of 2154752 shares changing hands. The stock had previously closed at $8.41.

Analysts Set New Price Targets

YMM has been the topic of a number of recent research reports. Bank of America started coverage on shares of Full Truck Alliance in a report on Tuesday, May 5th. They issued a “buy” rating and a $11.30 price objective on the stock. Weiss Ratings downgraded shares of Full Truck Alliance from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Full Truck Alliance in a report on Thursday, March 12th. Citigroup restated a “buy” rating on shares of Full Truck Alliance in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from an “underweight” rating to a “neutral” rating and set a $8.00 target price on the stock in a report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.79.

Full Truck Alliance Stock Down 4.5%

The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.78 and a beta of 0.30. The company’s fifty day simple moving average is $8.64 and its 200 day simple moving average is $9.52.

Full Truck Alliance (NYSE:YMM) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.01 EPS for the quarter. Full Truck Alliance had a net margin of 32.68% and a return on equity of 10.52%. The firm had revenue of $456.32 million for the quarter. As a group, analysts anticipate that Full Truck Alliance Co. Ltd. Sponsored ADR will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC acquired a new position in shares of Full Truck Alliance in the first quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 valued at $32,000 after acquiring an additional 1,762 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Full Truck Alliance in the fourth quarter valued at about $39,000. Banque de Luxembourg S.A. acquired a new position in shares of Full Truck Alliance in the fourth quarter valued at about $44,000. Finally, CoreCap Advisors LLC grew its stake in shares of Full Truck Alliance by 2,000.0% in the fourth quarter. CoreCap Advisors LLC now owns 4,200 shares of the company’s stock valued at $45,000 after acquiring an additional 4,000 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.