Full Truck Alliance (NYSE:YMM) Shares Gap Down – Time to Sell?

Full Truck Alliance Co. Ltd. (NYSE:YMM) gapped down prior to trading on Thursday . The stock had previously closed at $10.82, but opened at $10.60. Full Truck Alliance shares last traded at $10.77, with a volume of 815,636 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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 shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th.

Full Truck Alliance Stock Performance

The business has a 50-day simple moving average of $10.04 and a 200-day simple moving average of $8.76. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 25.67 and a beta of 0.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in YMM. First Beijing Investment Ltd acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth about $123,804,000. Polunin Capital Partners Ltd acquired a new position in Full Truck Alliance in the third quarter valued at approximately $29,632,000. Sylebra Capital LLC increased its stake in Full Truck Alliance by 57.9% in the second 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. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Full Truck Alliance by 1,220.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after purchasing an additional 1,834,900 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Full Truck Alliance during the 3rd quarter worth approximately $10,814,000. Institutional investors and hedge funds 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.