Oppenheimer Analysts Lift Earnings Estimates for TuSimple Holdings Inc. (NASDAQ:TSP)

TuSimple Holdings Inc. (NASDAQ:TSPGet Rating) – Stock analysts at Oppenheimer upped their Q3 2022 earnings per share (EPS) estimates for TuSimple in a report issued on Wednesday, August 3rd. Oppenheimer analyst C. Rusch now expects that the company will earn ($0.59) per share for the quarter, up from their previous forecast of ($0.62). The consensus estimate for TuSimple’s current full-year earnings is ($2.46) per share. Oppenheimer also issued estimates for TuSimple’s Q4 2022 earnings at ($0.62) EPS, FY2022 earnings at ($2.20) EPS, FY2023 earnings at ($2.73) EPS, FY2024 earnings at ($2.89) EPS and FY2025 earnings at ($2.04) EPS.

TSP has been the topic of several other research reports. Robert W. Baird dropped their price target on shares of TuSimple from $17.00 to $11.00 in a research note on Wednesday. Morgan Stanley cut their price target on TuSimple from $45.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. KeyCorp dropped their price objective on TuSimple from $40.00 to $30.00 in a report on Thursday, May 12th. China Renaissance raised TuSimple from a “hold” rating to a “buy” rating and cut their target price for the company from $39.10 to $15.50 in a research report on Thursday, May 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of TuSimple from $50.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.19.

TuSimple Trading Down 2.2 %

NASDAQ TSP opened at $9.40 on Friday. The stock has a market cap of $2.10 billion, a P/E ratio of -4.56 and a beta of 2.33. The company’s fifty day simple moving average is $8.44 and its 200-day simple moving average is $11.32. TuSimple has a 52 week low of $5.99 and a 52 week high of $50.30.

TuSimple (NASDAQ:TSPGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.07. The firm had revenue of $2.26 million during the quarter, compared to analysts’ expectations of $3.73 million. TuSimple had a negative return on equity of 34.01% and a negative net margin of 5,193.63%. During the same quarter in the prior year, the business earned ($6.43) EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSP. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in TuSimple during the fourth quarter worth about $181,000. Fifth Third Bancorp bought a new stake in shares of TuSimple in the 4th quarter worth approximately $108,000. New York State Common Retirement Fund boosted its position in TuSimple by 361.3% during the 4th quarter. New York State Common Retirement Fund now owns 150,400 shares of the company’s stock valued at $5,392,000 after purchasing an additional 117,800 shares during the period. Daiwa Securities Group Inc. bought a new position in TuSimple during the 4th quarter worth $83,000. Finally, Interchange Capital Partners LLC acquired a new stake in TuSimple in the fourth quarter worth $245,000. 43.89% of the stock is currently owned by institutional investors.

About TuSimple

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TuSimple Holdings Inc, an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and internationally. It intends to produce a line of purpose-built (Level 4) L4 autonomous semi-trucks for the North American market. The company operates its Autonomous Freight Network (AFN) L4 autonomous semi-trucks equipped with its autonomous driving technology.

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Earnings History and Estimates for TuSimple (NASDAQ:TSP)

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