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

Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.30 and last traded at $10.30, with a volume of 2370016 shares changing hands. The stock had previously closed at $10.22.

Analysts Set New Price Targets

YMM has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Full Truck Alliance from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays dropped their price objective on 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. One analyst has 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. According to data from MarketBeat, Full Truck Alliance presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Full Truck Alliance Stock Up 0.4 %

The stock’s fifty day simple moving average is $9.18 and its 200-day simple moving average is $8.42. The company has a market capitalization of $10.81 billion, a PE ratio of 24.26 and a beta of 0.28.

Institutional Investors Weigh In On Full Truck Alliance

A number of institutional investors and hedge funds have recently bought and sold shares of YMM. Tobam purchased a new stake in Full Truck Alliance in 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 worth $38,000. Atomi Financial Group Inc. lifted its stake 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 worth $97,000 after purchasing an additional 1,329 shares during the period. Aigen Investment Management LP purchased a new position in shares of Full Truck Alliance during the 3rd quarter worth $151,000. Finally, Scientech Research LLC purchased a new position in shares of Full Truck Alliance during the 2nd quarter worth $156,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

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.