Full Truck Alliance Co. Ltd. [NYSE: YMM] gained 3.70% or 0.25 points to close at $7.01 with a heavy trading volume of 10888855 shares. The company report on January 25, 2023 that Full Truck Alliance Co. Ltd. Responds to Short-Seller Report.
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Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM), a leading digital freight platform, today issued the following statement in response to a report issued by J Capital Research USA LLC, a short seller, relating to the Company on January 24, 2023.
The Company firmly denies the allegations in the report that it has over-stated or falsified any operating or financial data. The Company maintains the report contains numerous factual inaccuracies, false statements, unsupported speculations and flawed conclusions demonstrating a cursory and incomplete understanding of the Company’s industry and business operations. The Company believes the report does not have any merit. The Company is considering the appropriate course of action to protect the interests of all of its shareholders.
It opened the trading session at $6.81, the shares rose to $7.15 and dropped to $6.80, the range by which the price of stock traded the whole day. The daily chart for YMM points out that the company has recorded -12.70% loss over the past six months. However, it is still -70.15% lower than its most recent low trading price.
If we look at the average trading volume of 7.81M shares, YMM reached to a volume of 10888855 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Full Truck Alliance Co. Ltd. [YMM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for YMM shares is $11.97 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on YMM stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Full Truck Alliance Co. Ltd. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 09, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on December 01, 2022, representing the official price target for Full Truck Alliance Co. Ltd. stock. Previously, the target price had yet another raise to $12, while Credit Suisse analysts kept a Outperform rating on YMM stock.
The Average True Range (ATR) for Full Truck Alliance Co. Ltd. is set at 0.43, with the Price to Sales ratio for YMM stock in the period of the last 12 months amounting to 8.81. The Price to Book ratio for the last quarter was 1.52, with the Price to Cash per share for the same quarter was set at 3.41.
Trading performance analysis for YMM stock
Full Truck Alliance Co. Ltd. [YMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.14. With this latest performance, YMM shares dropped by -20.79% in over the last four-week period, additionally sinking by -12.70% over the last 6 months – not to mention a drop of -26.21% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for YMM stock in for the last two-week period is set at 39.48, with the RSI for the last a single of trading hit 39.95, and the three-weeks RSI is set at 41.62 for Full Truck Alliance Co. Ltd. [YMM]. The present Moving Average for the last 50 days of trading for this stock 8.25, while it was recorded at 6.93 for the last single week of trading, and 7.46 for the last 200 days.
Full Truck Alliance Co. Ltd. [YMM]: A deeper dive into fundamental analysis
Full Truck Alliance Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.40 and a Current Ratio set at 11.40.
An analysis of insider ownership at Full Truck Alliance Co. Ltd. [YMM]
80 institutional holders increased their position in Full Truck Alliance Co. Ltd. [NYSE:YMM] by around 83,603,495 shares. Additionally, 47 investors decreased positions by around 24,895,152 shares, while 14 investors held positions by with 347,740,255 shares. The mentioned changes placed institutional holdings at 456,238,902 shares, according to the latest SEC report filing. YMM stock had 37 new institutional investments in for a total of 24,802,769 shares, while 15 institutional investors sold positions of 4,111,209 shares during the same period.