Brokerages Set Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) PT at $11.04

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.0375.

A number of equities research analysts have issued reports on YMM shares. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.60 to $10.00 in a report on Monday, June 29th. Nomura set a $11.00 target price on Full Truck Alliance in a report on Monday, June 15th. Citigroup reissued a “buy” rating on shares of Full Truck Alliance in a research note on Monday, April 20th. Weiss Ratings upgraded Full Truck Alliance from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Bank of America assumed coverage on Full Truck Alliance in a research report on Tuesday, May 5th. They set a “buy” rating and a $11.30 price objective for the company.

Full Truck Alliance Stock Performance

Shares of YMM opened at $9.27 on Thursday. The company’s 50-day simple moving average is $8.51 and its 200-day simple moving average is $9.00. Full Truck Alliance has a 1 year low of $7.45 and a 1 year high of $14.07. The stock has a market capitalization of $9.66 billion, a PE ratio of 16.25, a P/E/G ratio of 0.80 and a beta of 0.31.

Full Truck Alliance Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a $0.084 dividend. The ex-dividend date is Tuesday, July 7th. This represents a yield of 201.0%. Full Truck Alliance’s payout ratio is currently 28.07%.

Institutional Investors Weigh In On Full Truck Alliance

A number of large investors have recently modified their holdings of the company. Parnassus Investments LLC boosted its stake in shares of Full Truck Alliance by 7.1% during the fourth quarter. Parnassus Investments LLC now owns 23,076 shares of the company’s stock worth $248,000 after buying an additional 1,529 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Full Truck Alliance by 150.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,937 shares of the company’s stock worth $32,000 after purchasing an additional 1,762 shares during the period. Capital International Sarl grew its position in Full Truck Alliance by 0.8% in the 4th quarter. Capital International Sarl now owns 266,548 shares of the company’s stock valued at $2,860,000 after buying an additional 2,030 shares during the last quarter. Wells Fargo & Company MN increased its stake in Full Truck Alliance by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 9,258 shares of the company’s stock valued at $99,000 after buying an additional 2,373 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Full Truck Alliance by 23.1% in the 4th quarter. Hantz Financial Services Inc. now owns 13,946 shares of the company’s stock valued at $150,000 after buying an additional 2,613 shares during the period. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.