Full Truck Alliance (NYSE:YMM) Sees Large Volume Increase – Here’s What Happened

Full Truck Alliance Co. Ltd. (NYSE:YMM) shares saw unusually-high trading volume on Friday . Approximately 15,986,229 shares traded hands during trading, an increase of 75% from the previous session’s volume of 9,160,008 shares.The stock last traded at $9.76 and had previously closed at $10.23.

Analyst Upgrades and Downgrades

YMM has been the subject of a number of recent analyst reports. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. HSBC initiated coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $18.00 in a research report on Thursday, March 6th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Barclays increased their target price on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Stock Performance

The business’s 50 day simple moving average is $12.30 and its 200-day simple moving average is $10.84. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 23.08 and a beta of 0.19.

Full Truck Alliance Increases Dividend

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

Institutional Inflows and Outflows

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