Full Truck Alliance Co. Ltd. (NYSE:YMM) Short Interest Update

Full Truck Alliance Co. Ltd. (NYSE:YMM) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a drop of 38.2% from the February 13th total of 34,500,000 shares. Based on an average daily trading volume, of 8,670,000 shares, the short-interest ratio is currently 2.5 days. Approximately 2.5% of the shares of the stock are short sold.

Full Truck Alliance Stock Performance

NYSE:YMM traded up $0.14 during mid-day trading on Friday, reaching $12.90. The stock had a trading volume of 7,913,537 shares, compared to its average volume of 7,961,098. The firm has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $10.17. The stock has a market capitalization of $13.59 billion, a P/E ratio of 30.70 and a beta of 0.25. Full Truck Alliance has a one year low of $6.66 and a one year high of $13.53.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be given a $0.1444 dividend. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. This represents a yield of 0.9%. Full Truck Alliance’s payout ratio is presently 39.02%.

Analyst Ratings Changes

YMM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded 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 note on Thursday, March 6th. HSBC started coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price target for the company. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $16.40.

Institutional Trading of Full Truck Alliance

A number of hedge funds have recently bought and sold shares of YMM. FIL Ltd lifted its position in Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock worth $559,725,000 after buying an additional 23,468,794 shares during the last quarter. Aspex Management HK Ltd bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $164,557,000. JPMorgan Chase & Co. lifted its position 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 during the last quarter. Norges Bank bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $101,649,000. Finally, Empower Harvest Management Services Inc. bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $97,058,000. Institutional investors own 39.02% of the company’s stock.

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.