Full Truck Alliance (NYSE:YMM) Hits New 12-Month High – Time to Buy?

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 $10.30 and last traded at $10.30, with a volume of 103170 shares traded. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

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

Full Truck Alliance Stock Performance

The firm’s 50 day simple moving average is $7.77 and its 200 day simple moving average is $8.13. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 30.47 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The business had revenue of $380.38 million during the quarter, compared to analysts’ expectations of $369.24 million. As a group, sell-side analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors have recently made changes to their positions in the company. Tobam purchased a new position in shares of Full Truck Alliance during the 2nd quarter valued at approximately $35,000. Blue Trust Inc. purchased a new position in shares of Full Truck Alliance during the 2nd quarter valued at approximately $38,000. Atomi Financial Group Inc. increased its holdings in shares of Full Truck Alliance by 12.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after purchasing an additional 1,329 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Full Truck Alliance by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after purchasing an additional 3,421 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at approximately $122,000. 39.02% of the stock is owned by hedge funds and other 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.