TuSimple Holdings Inc. (NASDAQ:TSP – Get Rating) has been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.88.
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered TuSimple from an “overweight” rating to an “underweight” rating in a research report on Tuesday, November 1st. Truist Financial cut TuSimple from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Royal Bank of Canada cut TuSimple from a “sector perform” rating to an “underperform” rating in a research note on Monday, October 31st. Piper Sandler downgraded 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. Finally, Citigroup downgraded shares of TuSimple from a “buy” rating to a “sell” rating in a research report on Monday, October 31st.
Institutional Trading of TuSimple
Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of TuSimple by 107.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 380,862 shares of the company’s stock worth $2,754,000 after purchasing an additional 197,365 shares in the last quarter. Trexquant Investment LP bought a new position in shares of TuSimple in the 2nd quarter worth $301,000. Delphia USA Inc. bought a new position in shares of TuSimple in the 2nd quarter worth $141,000. Nisa Investment Advisors LLC bought a new position in shares of TuSimple in the 2nd quarter worth $36,000. Finally, ARK Investment Management LLC lifted its holdings in shares of TuSimple by 18.7% in the 3rd quarter. ARK Investment Management LLC now owns 16,099,348 shares of the company’s stock worth $122,355,000 after purchasing an additional 2,535,027 shares in the last quarter. Institutional investors and hedge funds own 38.25% of the company’s stock.
TuSimple Stock Down 7.6 %
TuSimple (NASDAQ:TSP – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.08. The business had revenue of $2.65 million for the quarter, compared to analyst estimates of $2.32 million. TuSimple had a negative return on equity of 36.09% and a negative net margin of 4,697.76%. As a group, equities research analysts expect that TuSimple will post -2.04 EPS for the current fiscal year.
TuSimple Company Profile
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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