JPMorgan Chase & Co. Downgrades Full Truck Alliance (NYSE:YMM) to Neutral

Full Truck Alliance (NYSE:YMM) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $13.00 target price on the stock, up from their prior target price of $12.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.56% from the company’s current price.

A number of other analysts have also recently issued reports on YMM. Citigroup raised their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays cut their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd.

Full Truck Alliance Stock Down 2.2 %

YMM opened at $11.25 on Wednesday. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 26.79 and a beta of 0.28. Full Truck Alliance has a 12-month low of $5.70 and a 12-month high of $12.47. The business has a 50 day moving average of $9.47 and a 200-day moving average of $8.53.

Institutional Trading of Full Truck Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of YMM. First Beijing Investment Ltd bought a new position in shares of Full Truck Alliance during the third quarter worth approximately $123,804,000. Polunin Capital Partners Ltd acquired a new position in Full Truck Alliance in the 3rd quarter valued at $29,632,000. Sylebra Capital LLC lifted its position in shares of Full Truck Alliance by 57.9% during the 2nd quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock valued at $64,416,000 after acquiring an additional 2,939,456 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Full Truck Alliance by 1,220.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after purchasing an additional 1,834,900 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Full Truck Alliance in the third quarter worth $10,814,000. Institutional investors and hedge funds 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.