Full Truck Alliance Co Ltd ADR [NYSE: YMM] loss -2.99% or -0.23 points to close at $7.46 with a heavy trading volume of 14950115 shares. The company report on March 13, 2024 at 4:00 AM that Full Truck Alliance Co. Ltd. Announces Extension of Share Repurchase Program and Declaration of Cash Dividend.
Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM), a leading digital freight platform, today announced an extension of its share repurchase program. As previously reported by the Company, its board of directors (the “Board”) authorized a share repurchase program with an original expiration date of March 12, 2024. The Board resolved to extend the term of the share repurchase program such that the Company may repurchase up to approximately US$300 million of its American depositary shares (the “ADSs”), each representing 20 Class A ordinary shares and/or ordinary shares, through March 12, 2025. Repurchases under the Company’s share repurchase program may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, depending on the market conditions and in accordance with the applicable rules and regulations. The Board will review the share repurchase program periodically, and may authorize adjustments to its terms and size or suspend or discontinue the program. The timing and conditions of the share repurchases will be subject to various factors, including the requirements under Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Company expects to fund the repurchases with its existing cash balance.
Upon review of the Company’s results of operations, business development plan, capital requirements, and cash position, the Board is confident in the Company’s business performance and outlook. Accordingly, on March 13, 2024, the Board declared an annual cash dividend for the year ended December 31, 2023, of US$0.0072 per ordinary share, or US$0.1444 per ADS, payable on or around April 19, 2024, to holders of record of the Company’s ordinary shares at the close of business on April 5, 2024. The aggregate amount of the dividend is expected to be approximately US$150 million. Cash dividends are expected to be paid to holders of the Company’s ADSs through the depositary, Deutsche Bank Trust Company Americas, on or around April 19, 2024, subject to the terms of the deposit agreement, including the fees and expenses payable thereunder.
The daily chart for YMM points out that the company has recorded 7.65% gains over the past six months.
If we look at the average trading volume of 6.87M shares, YMM reached to a volume of 14950115 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 ADR [YMM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for YMM shares is $10.24 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 1.18. 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.
Morgan Stanley have made an estimate for Full Truck Alliance Co Ltd ADR shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 05, 2023. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on February 09, 2023, representing the official price target for Full Truck Alliance Co Ltd ADR stock. Previously, the target price had yet another raise to $11, while Jefferies analysts kept a Buy rating on YMM stock.
The Average True Range (ATR) for Full Truck Alliance Co Ltd ADR is set at 0.36, with the Price to Sales ratio for YMM stock in the period of the last 12 months amounting to 5.99. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 2.72.
Trading performance analysis for YMM stock
Full Truck Alliance Co Ltd ADR [YMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.42. With this latest performance, YMM shares gained by 14.59% in over the last four-week period, additionally plugging by 7.65% over the last 6 months – not to mention a rise of 1.77% 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 63.32, with the RSI for the last a single of trading hit 65.79, and the three-weeks RSI is set at 60.60 for Full Truck Alliance Co Ltd ADR [YMM]. The present Moving Average for the last 50 days of trading for this stock 6.57, while it was recorded at 7.33 for the last single week of trading, and 6.82 for the last 200 days.
Full Truck Alliance Co Ltd ADR [YMM]: A deeper dive into fundamental analysis
Full Truck Alliance Co Ltd ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.21 and a Current Ratio set at 7.33.
Full Truck Alliance Co Ltd ADR [YMM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Full Truck Alliance Co Ltd ADR posted 0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for YMM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Full Truck Alliance Co Ltd ADR go to 35.90%.
An analysis of Institutional ownership at Full Truck Alliance Co Ltd ADR [YMM]
The top three institutional holders of YMM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in YMM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in YMM stock with ownership which is approximately 5.8325%.
