Full Truck Alliance (NYSE:YMM) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Full Truck Alliance (NYSE:YMM) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $13.00 target price on the stock, up from their prior target price of $12.00.

A number of other equities analysts have also recently commented on YMM. Citigroup boosted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays dropped their target price 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.

Full Truck Alliance Trading Down 0.3 %

NYSE YMM opened at $11.21 on Wednesday. The firm’s 50 day simple moving average is $9.49 and its 200 day simple moving average is $8.55. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 26.69 and a beta of 0.28. Full Truck Alliance has a 1 year low of $5.70 and a 1 year high of $12.47.

Hedge Funds Weigh In On Full Truck Alliance

Several large investors have recently bought and sold shares of the company. Sylebra Capital LLC lifted its holdings in shares of Full Truck Alliance by 57.9% during the second quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock worth $64,416,000 after purchasing an additional 2,939,456 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Full Truck Alliance during the 3rd quarter worth about $3,525,000. XTX Topco Ltd grew its position in shares of Full Truck Alliance by 318.2% in the 3rd quarter. XTX Topco Ltd now owns 164,281 shares of the company’s stock valued at $1,480,000 after buying an additional 125,001 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Full Truck Alliance during the second quarter worth about $1,092,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Full Truck Alliance by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after acquiring an additional 100,080 shares during the period. 39.02% of the stock is currently owned by 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.