Full Truck Alliance (NYSE:YMM) Shares Gap Down – What’s Next?

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down before the market opened on Thursday . The stock had previously closed at $10.82, but opened at $10.60. Full Truck Alliance shares last traded at $10.77, with a volume of 815,636 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on YMM shares. Citigroup increased their price objective 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. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th.

Full Truck Alliance Stock Up 0.7 %

The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 25.95 and a beta of 0.28. The company’s 50 day moving average price is $9.97 and its 200 day moving average price is $8.74.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in Full Truck Alliance by 109.5% in the third quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock valued at $90,000 after buying an additional 5,226 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Full Truck Alliance during the 3rd quarter valued at approximately $151,000. Scientech Research LLC purchased a new stake in shares of Full Truck Alliance in the 2nd quarter valued at $156,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Full Truck Alliance in the second quarter worth $167,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Full Truck Alliance during the third quarter worth $207,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

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.