Full Truck Alliance (NYSE:YMM) Shares Gap Down – What’s Next?

Full Truck Alliance Co. Ltd. (NYSE:YMM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $9.79, but opened at $9.39. Full Truck Alliance shares last traded at $9.57, with a volume of 2,242,782 shares trading hands.

Analyst Ratings Changes

Separately, Barclays decreased their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd.

Full Truck Alliance Stock Up 5.6 %

The company has a market cap of $10.57 billion, a PE ratio of 31.34 and a beta of 0.23. The stock’s 50 day moving average is $7.64 and its 200-day moving average is $8.07.

Full Truck Alliance (NYSE:YMM) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The company had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. On average, analysts anticipate that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of YMM. Mubadala Investment Co PJSC bought a new position in Full Truck Alliance during the fourth quarter valued at $80,709,000. Sylebra Capital LLC bought a new position in Full Truck Alliance during the first quarter valued at $36,877,000. Jupiter Asset Management Ltd. bought a new position in Full Truck Alliance during the first quarter valued at $13,854,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Full Truck Alliance by 1,220.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock valued at $15,961,000 after acquiring an additional 1,834,900 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Full Truck Alliance during the third quarter valued at $10,814,000. Institutional investors 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.