Full Truck Alliance (NYSE:YMM) Stock Price Down 6.9% – Here’s Why

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price fell 6.9% on Wednesday . The stock traded as low as $9.64 and last traded at $9.65. Approximately 9,194,820 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 9,045,010 shares. The stock had previously closed at $10.36.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. Barclays lifted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. HSBC started coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price on the stock. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research report on Thursday, March 6th. Finally, Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a 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 data from MarketBeat.com, Full Truck Alliance has an average rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Stock Up 0.8 %

The firm has a market capitalization of $11.01 billion, a PE ratio of 24.87 and a beta of 0.19. The firm’s 50-day moving average price is $12.35 and its two-hundred day moving average price is $10.81.

Full Truck Alliance Increases Dividend

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

Institutional Investors Weigh In On Full Truck Alliance

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

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.