TuSimple (NASDAQ:TSP) Downgraded by Truist Financial

Truist Financial downgraded shares of TuSimple (NASDAQ:TSPGet Rating) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports.

A number of other research analysts have also recently commented on TSP. Piper Sandler cut shares of TuSimple from an overweight rating to a neutral rating in a research report on Monday, October 31st. They noted that the move was a valuation call. Royal Bank of Canada cut shares of TuSimple from a sector perform rating to an underperform rating in a report on Monday, October 31st. Bank of America cut shares of TuSimple from a neutral rating to an underperform rating and cut their price target for the company from $14.00 to $5.50 in a report on Monday, October 31st. Robert W. Baird cut shares of TuSimple from an outperform rating to a neutral rating and cut their price target for the company from $11.00 to $7.00 in a report on Monday, October 31st. Finally, Oppenheimer cut shares of TuSimple from an outperform rating to a market perform rating in a report on Tuesday, November 1st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $24.11.

TuSimple Stock Up 3.0 %

TSP opened at $2.78 on Friday. TuSimple has a 52-week low of $2.22 and a 52-week high of $43.79. The company has a 50 day moving average of $6.24 and a two-hundred day moving average of $7.68. The company has a market cap of $621.12 million, a P/E ratio of -1.38 and a beta of 0.89.

TuSimple (NASDAQ:TSPGet Rating) last released its quarterly earnings data on Monday, October 31st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.08. TuSimple had a negative net margin of 4,697.76% and a negative return on equity of 36.09%. The company had revenue of $2.65 million during the quarter, compared to the consensus estimate of $2.32 million. Research analysts anticipate that TuSimple will post -2.04 earnings per share for the current year.

Hedge Funds Weigh In On TuSimple

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC bought a new position in shares of TuSimple during the first quarter worth about $41,000. Daiwa Securities Group Inc. grew its position in TuSimple by 45.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,371 shares of the company’s stock valued at $41,000 after buying an additional 1,058 shares in the last quarter. Glassman Wealth Services bought a new position in TuSimple in the 2nd quarter valued at about $29,000. Captrust Financial Advisors grew its position in TuSimple by 1,183.8% in the 2nd quarter. Captrust Financial Advisors now owns 4,442 shares of the company’s stock valued at $32,000 after buying an additional 4,096 shares in the last quarter. Finally, US Bancorp DE grew its position in TuSimple by 295.9% in the 2nd quarter. US Bancorp DE now owns 4,687 shares of the company’s stock valued at $34,000 after buying an additional 3,503 shares in the last quarter. Institutional investors own 38.25% of the company’s stock.

TuSimple Company Profile

(Get Rating)

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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Analyst Recommendations for TuSimple (NASDAQ:TSP)

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