Full Truck Alliance (NYSE:YMM) Shares Gap Up Following Analyst Upgrade

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $7.00 to $13.00. The stock had previously closed at $12.19, but opened at $12.75. Barclays currently has an equal weight rating on the stock. Full Truck Alliance shares last traded at $12.60, with a volume of 1,497,159 shares changing hands.

A number of other equities research analysts also recently weighed in on YMM. Citigroup lifted their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC started coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Full Truck Alliance has a consensus rating of “Buy” and a consensus price target of $16.40.

Institutional Trading of Full Truck Alliance

Institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in Full Truck Alliance in the 4th quarter valued at about $64,000. Townsquare Capital LLC acquired a new stake in Full Truck Alliance during the fourth quarter worth approximately $111,000. Wolverine Trading LLC bought a new position in Full Truck Alliance during the 4th quarter worth $115,000. Vise Technologies Inc. bought a new stake in Full Truck Alliance during the fourth quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in shares of Full Truck Alliance during the 4th quarter worth approximately $143,000. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Up 3.2 %

The firm has a 50 day moving average of $11.66 and a two-hundred day moving average of $10.01. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 29.94 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, April 18th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio (DPR) is currently 46.34%.

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.