Traders Buy Large Volume of Put Options on Full Truck Alliance (NYSE:YMM)

Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) was the recipient of unusually large options trading on Thursday. Stock traders acquired 3,002 put options on the company. This represents an increase of 328% compared to the typical volume of 701 put options.

Full Truck Alliance Stock Performance

YMM traded down $0.06 during trading on Thursday, reaching $9.83. The company had a trading volume of 4,220,543 shares, compared to its average volume of 15,240,712. The firm’s 50-day simple moving average is $11.26 and its 200 day simple moving average is $12.08. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.22. Full Truck Alliance has a 12-month low of $9.45 and a 12-month high of $14.07.

Hedge Funds Weigh In On Full Truck Alliance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YMM. Compound Planning Inc. increased its position in Full Truck Alliance by 7.0% in the 3rd quarter. Compound Planning Inc. now owns 15,948 shares of the company’s stock worth $207,000 after purchasing an additional 1,048 shares during the last quarter. CI Investments Inc. grew its stake in shares of Full Truck Alliance by 10.7% in the 3rd quarter. CI Investments Inc. now owns 10,924 shares of the company’s stock valued at $142,000 after buying an additional 1,052 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Full Truck Alliance by 0.6% in the third quarter. Exchange Traded Concepts LLC now owns 248,174 shares of the company’s stock worth $3,219,000 after buying an additional 1,410 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Full Truck Alliance by 9.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,314 shares of the company’s stock valued at $311,000 after acquiring an additional 2,168 shares in the last quarter. Finally, Parnassus Investments LLC lifted its stake in Full Truck Alliance by 12.1% in the third quarter. Parnassus Investments LLC now owns 21,547 shares of the company’s stock valued at $279,000 after acquiring an additional 2,333 shares during the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Industrial Alliance Securities set a $8.00 price objective on Full Truck Alliance in a research note on Monday. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research report on Monday, November 17th. Weiss Ratings lowered shares of Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Jefferies Financial Group set a $13.00 target price on shares of Full Truck Alliance in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. lowered shares of Full Truck Alliance from a “neutral” rating to an “underweight” rating and cut their target price for the company from $11.00 to $8.00 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.71.

About Full Truck Alliance

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.