Full Truck Alliance (NYSE:YMM) Stock Price Up 6.4% – Here’s What Happened

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)’s share price was up 6.4% on Wednesday . The company traded as high as $9.20 and last traded at $9.1950. 4,691,486 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 8,424,469 shares. The stock had previously closed at $8.64.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on YMM shares. Weiss Ratings upgraded shares of Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Bank of America assumed coverage on Full Truck Alliance in a research report on Tuesday, May 5th. They set a “buy” rating and a $11.30 target price on the stock. Nomura set a $11.00 price target on Full Truck Alliance in a research report on Monday, June 15th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $8.60 to $10.00 in a report on Monday, June 29th. Finally, Citigroup reiterated a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.04.

Full Truck Alliance Price Performance

The stock has a fifty day moving average of $8.48 and a 200 day moving average of $9.05. The firm has a market capitalization of $9.62 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.31.

Full Truck Alliance Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.084 dividend. This represents a dividend yield of 201.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Full Truck Alliance’s payout ratio is 28.07%.

Institutional Trading of Full Truck Alliance

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Full Truck Alliance by 172.4% in the 1st quarter. Royal Bank of Canada now owns 34,765 shares of the company’s stock worth $444,000 after purchasing an additional 22,001 shares during the period. Geode Capital Management LLC raised its stake in shares of Full Truck Alliance by 11.6% in the second quarter. Geode Capital Management LLC now owns 159,770 shares of the company’s stock valued at $1,887,000 after buying an additional 16,591 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Full Truck Alliance by 274.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock valued at $46,000 after buying an additional 2,845 shares during the period. California Public Employees Retirement System lifted its position in shares of Full Truck Alliance by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 1,134,627 shares of the company’s stock valued at $13,400,000 after buying an additional 83,434 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Full Truck Alliance during the 2nd quarter worth $118,000. Institutional investors own 39.02% of the company’s stock.

About Full Truck Alliance

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.