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

Analysts at HSBC started coverage on shares of Full Truck Alliance (NYSE:YMM) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $18.00 price target on the stock. HSBC’s target price would suggest a potential upside of 52.30% from the company’s previous close.

Several other research firms have also issued reports on YMM. Citigroup increased their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock opened at $11.82 on Wednesday. Full Truck Alliance has a 52-week low of $5.70 and a 52-week high of $13.03. The firm has a market capitalization of $12.45 billion, a PE ratio of 28.14 and a beta of 0.25. The company’s fifty day moving average price is $11.45 and its two-hundred day moving average price is $9.72.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at $64,000. Blue Trust Inc. grew its holdings in Full Truck Alliance by 109.5% during the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock worth $90,000 after acquiring an additional 5,226 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Full Truck Alliance in the 4th quarter valued at about $111,000. Wolverine Trading LLC bought a new position in shares of Full Truck Alliance in the fourth quarter worth about $115,000. Finally, Vise Technologies Inc. acquired a new position in shares of Full Truck Alliance during the fourth quarter worth approximately $130,000. Institutional investors own 39.02% of the company’s stock.

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.