Full Truck Alliance (NYSE:YMM) Shares Gap Up – What’s Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.30, but opened at $9.80. Full Truck Alliance shares last traded at $9.76, with a volume of 3,978,245 shares.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd.

Full Truck Alliance Stock Down 3.0 %

The stock has a market capitalization of $10.01 billion, a P/E ratio of 29.69 and a beta of 0.23. The firm has a fifty day moving average price of $7.61 and a two-hundred day moving average price of $8.05.

Full Truck Alliance (NYSE:YMM) last released its earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. The company had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. Sell-side analysts anticipate that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Full Truck Alliance during the 3rd quarter valued at about $10,814,000. Maple Brown Abbott Ltd purchased a new stake in shares of Full Truck Alliance in the 3rd quarter valued at approximately $517,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Full Truck Alliance by 1,220.8% in 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 acquiring an additional 1,834,900 shares during the last quarter. Sylebra Capital LLC boosted 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 worth $64,416,000 after purchasing an additional 2,939,456 shares during the period. Finally, SIH Partners LLLP purchased a new position in shares of Full Truck Alliance during the 2nd quarter worth approximately $338,000. 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.