Citigroup Boosts Full Truck Alliance (NYSE:YMM) Price Target to $13.00

Full Truck Alliance (NYSE:YMM) had its price target lifted by Citigroup from $12.00 to $13.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Barclays cut their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $10.00.

Full Truck Alliance Stock Down 3.4 %

YMM stock opened at $9.37 on Thursday. The stock has a 50-day simple moving average of $8.86 and a two-hundred day simple moving average of $8.37. Full Truck Alliance has a twelve month low of $5.70 and a twelve month high of $10.29. The firm has a market capitalization of $9.87 billion, a PE ratio of 22.31 and a beta of 0.23.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Atomi Financial Group Inc. grew its holdings in shares of Full Truck Alliance by 12.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after purchasing an additional 1,329 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Full Truck Alliance by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after acquiring an additional 3,421 shares during the period. Geode Capital Management LLC grew its position in Full Truck Alliance by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock worth $1,067,000 after acquiring an additional 4,235 shares during the last quarter. Tobam bought a new stake in Full Truck Alliance in the second quarter valued at approximately $35,000. Finally, Blue Trust Inc. purchased a new stake in shares of Full Truck Alliance during the second quarter valued at approximately $38,000. 39.02% of the stock is currently owned by hedge funds and other 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.