Full Truck Alliance (NYSE:YMM) Raised to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Full Truck Alliance (NYSE:YMM) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other brokerages have also commented on YMM. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research note on Wednesday, December 11th. HSBC assumed coverage on Full Truck Alliance in a research note on Wednesday. They set a “buy” rating and a $18.00 price target for the company. Finally, Citigroup lifted their target price 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. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.25.

Full Truck Alliance Stock Up 0.6 %

Shares of YMM opened at $11.66 on Wednesday. The company has a market capitalization of $12.28 billion, a PE ratio of 27.75 and a beta of 0.25. Full Truck Alliance has a 52-week low of $5.70 and a 52-week high of $13.03. The company has a 50-day simple moving average of $11.48 and a 200-day simple moving average of $9.74.

Hedge Funds Weigh In On Full Truck Alliance

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Full Truck Alliance during the 4th quarter valued at $64,000. Townsquare Capital LLC acquired a new stake in shares of Full Truck Alliance during the fourth quarter worth approximately $111,000. Wolverine Trading LLC bought a new stake in shares of Full Truck Alliance in the 4th quarter worth about $115,000. Vise Technologies Inc. acquired a new stake in Full Truck Alliance during the fourth quarter valued at approximately $130,000. Finally, Truist Financial Corp acquired a new position in Full Truck Alliance in the fourth quarter worth $143,000. 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.