Full Truck Alliance (NYSE:YMM) Shares Gap Down – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $9.75, but opened at $9.35. Full Truck Alliance shares last traded at $9.44, with a volume of 1,433,548 shares trading hands.

Analysts Set New Price Targets

Separately, Barclays dropped their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd.

Full Truck Alliance Stock Performance

The stock has a market capitalization of $9.89 billion, a PE ratio of 30.47 and a beta of 0.23. The firm has a 50 day moving average of $7.77 and a 200-day moving average of $8.13.

Full Truck Alliance (NYSE:YMM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. On average, sell-side analysts predict that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

Institutional Trading of Full Truck Alliance

A number of institutional investors have recently added to or reduced their stakes in YMM. Tobam acquired a new position in Full Truck Alliance during the second quarter worth $35,000. Blue Trust Inc. bought a new stake in Full Truck Alliance during the second quarter worth approximately $38,000. Atomi Financial Group Inc. grew its holdings in Full Truck Alliance by 12.4% during the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after purchasing an additional 1,329 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Full Truck Alliance by 34.0% in the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares during the period. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Full Truck Alliance in the fourth quarter worth $122,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.