Full Truck Alliance (NYSE:YMM) Shares Gap Up to $7.64

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.64, but opened at $8.24. Full Truck Alliance shares last traded at $8.32, with a volume of 2,065,870 shares.

Wall Street Analyst Weigh In

Separately, Barclays decreased 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 note on Friday, August 23rd.

Full Truck Alliance Stock Performance

The business has a 50-day simple moving average of $7.46 and a 200 day simple moving average of $7.97. The firm has a market cap of $8.58 billion, a P/E ratio of 23.86 and a beta of 0.20.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $380.38 million during the quarter, compared to the consensus estimate of $369.24 million. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. On average, research analysts expect that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Full Truck Alliance

A number of institutional investors have recently bought and sold shares of YMM. Vanguard Group Inc. lifted its position in Full Truck Alliance by 0.7% during the first quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after buying an additional 170,657 shares during the period. Mubadala Investment Co PJSC lifted its position in Full Truck Alliance by 45.7% during the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock valued at $121,966,000 after acquiring an additional 5,263,157 shares during the period. Janus Henderson Group PLC boosted its stake in Full Truck Alliance by 2.8% during the first quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock worth $85,822,000 after acquiring an additional 317,980 shares in the last quarter. Bamco Inc. NY grew its holdings in Full Truck Alliance by 2.3% in the first quarter. Bamco Inc. NY now owns 10,819,188 shares of the company’s stock worth $78,655,000 after purchasing an additional 238,622 shares during the period. Finally, Norges Bank bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $64,936,000. 39.02% of the stock is owned by institutional investors.

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.