Full Truck Alliance (NYSE:YMM) Sets New 12-Month High – What’s Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $12.53 and last traded at $12.48, with a volume of 2620043 shares trading hands. The stock had previously closed at $12.19.

Analysts Set New Price Targets

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

Full Truck Alliance Stock Up 3.9 %

The stock has a market capitalization of $13.34 billion, a P/E ratio of 30.16 and a beta of 0.25. The business has a 50-day simple moving average of $11.10 and a two-hundred day simple moving average of $9.29.

Hedge Funds Weigh In On Full Truck Alliance

Several institutional investors have recently added to or reduced their stakes in YMM. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Full Truck Alliance during the fourth quarter worth approximately $1,408,000. ANTIPODES PARTNERS Ltd bought a new stake in Full Truck Alliance during the 4th quarter worth approximately $511,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Full Truck Alliance by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,262 shares of the company’s stock valued at $1,128,000 after purchasing an additional 1,722 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Full Truck Alliance by 2,104.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 21,145 shares of the company’s stock valued at $229,000 after purchasing an additional 20,186 shares during the last quarter. Finally, Davis Selected Advisers acquired a new position in Full Truck Alliance in the fourth quarter worth $58,432,000. 39.02% of the stock is owned by institutional investors.

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.