Full Truck Alliance (NYSE:YMM) Sets New 1-Year High – Should You Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.53 and last traded at $12.48, with a volume of 2620043 shares changing hands. The stock had previously closed at $12.19.

Analyst Upgrades and Downgrades

YMM has been the topic of several recent research reports. Citigroup raised their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of 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 research report on Wednesday, December 11th.

Full Truck Alliance Trading Up 3.9 %

The company has a market cap of $13.34 billion, a price-to-earnings ratio of 30.16 and a beta of 0.25. The firm’s fifty day moving average price is $11.10 and its 200-day moving average price is $9.29.

Hedge Funds Weigh In On Full Truck Alliance

A number of large investors have recently added to or reduced their stakes in YMM. Greenwoods Asset Management Hong Kong Ltd. grew its stake 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 worth $281,534,000 after acquiring an additional 1,802,420 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Full Truck Alliance by 3.9% during the third quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after acquiring an additional 921,820 shares in the last quarter. First Beijing Investment Ltd acquired a new stake in shares of Full Truck Alliance in the 3rd quarter valued at approximately $123,804,000. Bamco Inc. NY raised its position in Full Truck Alliance by 1.2% during the third quarter. Bamco Inc. NY now owns 10,405,899 shares of the company’s stock worth $93,757,000 after acquiring an additional 125,853 shares in the last quarter. Finally, Empower Harvest Management Services Inc. acquired a new stake in Full Truck Alliance in the fourth quarter valued at $97,058,000. Institutional investors own 39.02% of the company’s stock.

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.