Strs Ohio Has $32,000 Position in TuSimple Holdings Inc. (NASDAQ:TSP)

Strs Ohio reduced its position in shares of TuSimple Holdings Inc. (NASDAQ:TSP – Get Rating) by 73.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,300 shares of the company’s stock after selling 12,000 shares during the period. Strs Ohio’s holdings in TuSimple were worth $32,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSP. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of TuSimple by 107.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 380,862 shares of the company’s stock worth $2,754,000 after acquiring an additional 197,365 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of TuSimple in the second quarter worth $301,000. Delphia USA Inc. acquired a new position in shares of TuSimple in the second quarter worth $141,000. Nisa Investment Advisors LLC acquired a new position in shares of TuSimple in the second quarter worth $36,000. Finally, ARK Investment Management LLC increased its stake in shares of TuSimple by 18.7% in the third quarter. ARK Investment Management LLC now owns 16,099,348 shares of the company’s stock worth $122,355,000 after acquiring an additional 2,535,027 shares during the last quarter. 38.25% of the stock is owned by institutional investors and hedge funds.

TuSimple Price Performance

TSP stock opened at $2.06 on Monday. TuSimple Holdings Inc. has a 52-week low of $1.23 and a 52-week high of $21.41. The company has a 50-day moving average of $1.93 and a two-hundred day moving average of $5.46. The stock has a market capitalization of $462.44 million, a price-to-earnings ratio of -1.02 and a beta of 0.73.

TuSimple (NASDAQ:TSP – Get Rating) last released its quarterly earnings results on Monday, October 31st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.32 million. Equities analysts expect that TuSimple Holdings Inc. will post -2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TSP shares. Piper Sandler downgraded shares of TuSimple from an “overweight” rating to a “neutral” rating in a research note on Monday, October 31st. They noted that the move was a valuation call. Oppenheimer downgraded shares of TuSimple from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Bank of America lowered their target price on shares of TuSimple from $2.50 to $1.00 in a research report on Wednesday, December 7th. JPMorgan Chase & Co. downgraded shares of TuSimple from an “overweight” rating to an “underweight” rating in a research report on Tuesday, November 1st. Finally, Citigroup downgraded shares of TuSimple from a “buy” rating to a “sell” rating in a research report on Monday, October 31st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TuSimple has a consensus rating of “Hold” and a consensus target price of $22.62.

TuSimple Company Profile

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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.