Full Truck Alliance (NYSE:YMM) Shares Gap Up – Still a Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped up prior to trading on Monday . The stock had previously closed at $10.76, but opened at $11.48. Full Truck Alliance shares last traded at $11.86, with a volume of 4,035,519 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on YMM shares. Citigroup upped their price target on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Barclays reduced their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd.

Full Truck Alliance Stock Down 2.9 %

The firm has a market cap of $12.56 billion, a PE ratio of 28.38 and a beta of 0.28. The firm’s 50 day moving average is $9.40 and its 200-day moving average is $8.49.

Hedge Funds Weigh In On Full Truck Alliance

Large investors have recently bought and sold shares of the stock. Tobam acquired a new stake in shares of Full Truck Alliance in the second quarter worth $35,000. Blue Trust Inc. acquired a new stake in shares of Full Truck Alliance in the second quarter worth $38,000. Atomi Financial Group Inc. increased its position in shares of Full Truck Alliance by 12.4% in the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock worth $97,000 after acquiring an additional 1,329 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Full Truck Alliance in the third quarter worth $151,000. Finally, Scientech Research LLC acquired a new stake in shares of Full Truck Alliance in the second 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.