Full Truck Alliance Co. Ltd. (NYSE:YMM) Sees Significant Decrease in Short Interest

Full Truck Alliance Co. Ltd. (NYSE:YMM) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 21,320,000 shares, a decline of 38.2% from the February 13th total of 34,500,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 8,670,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. 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 note on Thursday, March 6th. Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a report on Thursday, March 6th. Finally, HSBC started coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.40.

Hedge Funds Weigh In On Full Truck Alliance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Full Truck Alliance in the 4th quarter worth about $16,578,000. Burgundy Asset Management Ltd. raised its position in shares of Full Truck Alliance by 1,541.1% during the 4th quarter. Burgundy Asset Management Ltd. now owns 915,700 shares of the company’s stock valued at $9,908,000 after acquiring an additional 859,901 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of Full Truck Alliance in the 4th quarter worth about $130,000. Sylebra Capital LLC boosted its stake in Full Truck Alliance by 64.3% in the fourth quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company’s stock valued at $115,701,000 after acquiring an additional 4,184,065 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in Full Truck Alliance in the fourth quarter worth $115,000. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Up 6.4 %

Full Truck Alliance stock traded up $0.83 during midday trading on Monday, reaching $13.74. The company’s stock had a trading volume of 9,086,316 shares, compared to its average volume of 8,546,790. The company has a market cap of $14.47 billion, a P/E ratio of 32.70 and a beta of 0.25. Full Truck Alliance has a fifty-two week low of $6.66 and a fifty-two week high of $13.84. The business has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $10.17.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be paid a $0.1444 dividend. This represents a dividend yield of 0.9%. The ex-dividend date is Monday, April 7th. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio (DPR) is 39.02%.

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.