Full Truck Alliance (NYSE:YMM) Shares Gap Down – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s stock price gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on YMM shares. Citigroup boosted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $13.00 in a report on Wednesday, December 11th.

Full Truck Alliance Trading Up 0.7 %

The firm’s 50-day moving average price is $9.97 and its two-hundred day moving average price is $8.74. The stock has a market cap of $11.48 billion, a PE ratio of 25.95 and a beta of 0.28.

Institutional Trading of Full Truck Alliance

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Full Truck Alliance by 109.5% in the 3rd quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock worth $90,000 after acquiring an additional 5,226 shares in the last quarter. Aigen Investment Management LP bought a new position in Full Truck Alliance in the third quarter worth about $151,000. Scientech Research LLC purchased a new stake in shares of Full Truck Alliance during the second quarter valued at about $156,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Full Truck Alliance during the second quarter valued at about $167,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Full Truck Alliance in the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors 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.