Citigroup Issues Positive Forecast for Full Truck Alliance (NYSE:YMM) Stock Price

Full Truck Alliance (NYSE:YMM) had its target price upped by equities researchers at Citigroup from $13.00 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 26.80% from the company’s current price.

Separately, Barclays dropped 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 report on Friday, August 23rd.

Full Truck Alliance Stock Down 3.7 %

Shares of YMM stock traded down $0.45 on Tuesday, reaching $11.83. The stock had a trading volume of 6,331,229 shares, compared to its average volume of 8,781,620. The firm’s 50-day moving average is $9.35 and its two-hundred day moving average is $8.47. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 28.17 and a beta of 0.28. Full Truck Alliance has a 12 month low of $5.70 and a 12 month high of $12.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alkeon Capital Management LLC grew its position in shares of Full Truck Alliance by 3.9% during the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after purchasing an additional 921,820 shares in the last quarter. First Beijing Investment Ltd bought a new position in Full Truck Alliance in the 3rd quarter valued at approximately $123,804,000. Bamco Inc. NY lifted its stake in Full Truck Alliance by 1.2% in the 3rd quarter. Bamco Inc. NY now owns 10,405,899 shares of the company’s stock valued at $93,757,000 after purchasing an additional 125,853 shares during the last quarter. Sylebra Capital LLC lifted its stake in Full Truck Alliance by 57.9% in the 2nd quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock valued at $64,416,000 after purchasing an additional 2,939,456 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Full Truck Alliance by 9.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 5,156,188 shares of the company’s stock valued at $46,457,000 after purchasing an additional 444,884 shares during the last quarter. Institutional investors and hedge funds 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.