Full Truck Alliance (NYSE:YMM) Trading Down 6.6%

Full Truck Alliance Co. Ltd. (NYSE:YMM) traded down 6.6% on Tuesday . The company traded as low as $15.73 and last traded at $15.75. 50,618 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 3,649,679 shares. The stock had previously closed at $16.86.

A number of analysts have recently commented on YMM shares. China Renaissance Securities assumed coverage on Full Truck Alliance in a report on Monday, August 2nd. They issued a “buy” rating on the stock. The Goldman Sachs Group started coverage on Full Truck Alliance in a research report on Tuesday, August 3rd. They set a “buy” rating and a $20.50 price target for the company. Finally, Citigroup initiated coverage on shares of Full Truck Alliance in a report on Wednesday, August 25th. They issued a “buy” rating and a $19.50 price objective on the stock.

The company has a 50 day moving average of $15.04.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings data on Tuesday, August 10th. The company reported ($1.09) earnings per share (EPS) for the quarter. The firm had revenue of $173.28 million during the quarter.

Several hedge funds have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $532,000. Neumann Advisory Hong Kong Ltd acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $767,000. Whale Rock Capital Management LLC acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth approximately $106,657,000. Marshall Wace LLP acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth approximately $649,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Full Truck Alliance during the 2nd quarter worth approximately $18,337,000. 23.74% of the stock is currently owned by institutional investors and hedge funds.

About Full Truck Alliance (NYSE:YMM)

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. It offers freight listing, matching, and brokerage services; and online transaction services, as well as various value-added services.

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