HSBC Initiates Coverage on Full Truck Alliance (NYSE:YMM)

Equities research analysts at HSBC initiated coverage on shares of Full Truck Alliance (NYSE:YMM) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. HSBC’s target price suggests a potential upside of 54.44% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $13.00 in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

Full Truck Alliance Price Performance

YMM opened at $11.66 on Wednesday. Full Truck Alliance has a one year low of $5.70 and a one year high of $13.03. The firm has a market capitalization of $12.28 billion, a P/E ratio of 27.75 and a beta of 0.25. The company has a fifty day moving average price of $11.48 and a 200-day moving average price of $9.74.

Institutional Trading of Full Truck Alliance

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in shares of Full Truck Alliance in the 4th quarter valued at about $64,000. Blue Trust Inc. increased its stake in Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock worth $90,000 after purchasing an additional 5,226 shares during the period. Townsquare Capital LLC bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $111,000. Wolverine Trading LLC bought a new stake in Full Truck Alliance in the fourth quarter valued at approximately $115,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $130,000. 39.02% of the stock is 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.