Full Truck Alliance Co. Ltd. (NYSE:YMM) Sees Significant Decline in Short Interest

Full Truck Alliance Co. Ltd. (NYSE:YMM) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a decline of 38.2% from the February 13th total of 34,500,000 shares. Based on an average daily volume of 8,670,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.5% of the shares of the company are sold short.

Full Truck Alliance Stock Up 6.4 %

YMM traded up $0.83 during trading on Monday, hitting $13.74. 9,086,316 shares of the company traded hands, compared to its average volume of 8,546,790. The firm has a market cap of $14.47 billion, a P/E ratio of 32.70 and a beta of 0.25. Full Truck Alliance has a one year low of $6.66 and a one year high of $13.84. The stock’s fifty day moving average is $11.81 and its 200 day moving average is $10.17.

Full Truck Alliance Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be issued a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio is presently 39.02%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on YMM shares. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a report on Thursday, March 6th. Barclays increased their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Citigroup lifted their price objective 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. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Full Truck Alliance has an average rating of “Buy” and a consensus target price of $16.40.

Institutional Investors Weigh In On Full Truck Alliance

A number of large investors have recently added to or reduced their stakes in the company. FIL Ltd raised its holdings in Full Truck Alliance by 83.0% in the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock worth $559,725,000 after purchasing an additional 23,468,794 shares in the last quarter. JPMorgan Chase & Co. increased its position in Full Truck Alliance by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock valued at $409,811,000 after acquiring an additional 10,383,716 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Full Truck Alliance by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock valued at $313,164,000 after acquiring an additional 295,301 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of Full Truck Alliance by 7.4% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock valued at $281,534,000 after buying an additional 1,802,420 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its holdings in Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after buying an additional 921,820 shares during the period. 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.