Full Truck Alliance (NYSE:YMM) Shares Down 5.3% – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price was down 5.3% on Tuesday . The stock traded as low as $11.98 and last traded at $12.12. Approximately 1,893,075 shares traded hands during trading, a decline of 71% from the average daily volume of 6,434,604 shares. The stock had previously closed at $12.80.

Analyst Ratings Changes

Several research analysts have recently weighed in on YMM shares. 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 note on Wednesday, December 11th. Citigroup lifted their target price on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Full Truck Alliance Trading Down 5.4 %

The business’s 50 day moving average is $11.15 and its two-hundred day moving average is $9.33. The company has a market cap of $12.77 billion, a PE ratio of 28.85 and a beta of 0.25.

Institutional Trading of Full Truck Alliance

A number of institutional investors and hedge funds have recently bought and sold shares of YMM. Blue Trust Inc. increased its holdings in Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock valued at $90,000 after acquiring an additional 5,226 shares during the last quarter. Polunin Capital Partners Ltd bought a new stake in Full Truck Alliance in the 3rd quarter valued at $29,632,000. China Universal Asset Management Co. Ltd. increased its holdings in Full Truck Alliance by 20.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 420,000 shares of the company’s stock valued at $3,784,000 after acquiring an additional 70,000 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Full Truck Alliance by 10.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,701,028 shares of the company’s stock valued at $33,346,000 after acquiring an additional 353,891 shares during the last quarter. Finally, First Beijing Investment Ltd bought a new stake in Full Truck Alliance in the 3rd quarter valued at $123,804,000. 39.02% of the stock is currently owned by 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.