Full Truck Alliance (NYSE:YMM) Reaches New 52-Week High – Here’s Why

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) reached a new 52-week high during trading on Monday . The company traded as high as $12.53 and last traded at $12.48, with a volume of 2620043 shares changing hands. The stock had previously closed at $12.19.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on YMM shares. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup raised their price objective 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, December 10th.

Full Truck Alliance Stock Performance

The stock has a market capitalization of $12.88 billion, a PE ratio of 29.10 and a beta of 0.25. The firm has a 50 day moving average of $11.19 and a 200-day moving average of $9.36.

Institutional Trading of Full Truck Alliance

Several institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Full Truck Alliance in the 4th quarter valued at approximately $64,000. Blue Trust Inc. grew its holdings in shares of Full Truck Alliance by 109.5% during 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 in the last quarter. Truist Financial Corp acquired a new position in shares of Full Truck Alliance in the fourth quarter worth $143,000. Aigen Investment Management LP purchased a new stake in shares of Full Truck Alliance during the third quarter worth $151,000. Finally, Savant Capital LLC purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth $194,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

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.