Analysts Set TuSimple Holdings Inc. (NASDAQ:TSP) PT at $48.99

Shares of TuSimple Holdings Inc. (NASDAQ:TSP – Get Rating) have earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.99.

TSP has been the subject of several recent analyst reports. Needham & Company LLC reduced their price objective on shares of TuSimple from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, February 10th. Royal Bank of Canada cut their price target on shares of TuSimple from $54.00 to $24.00 in a research note on Thursday, February 10th. Credit Suisse Group cut their price target on shares of TuSimple from $62.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. JPMorgan Chase & Co. cut their price target on shares of TuSimple from $50.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Finally, Zacks Investment Research raised shares of TuSimple from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 15th.

In related news, insider James Mullen sold 2,434 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $12.65, for a total transaction of $30,790.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss purchased 25,000 shares of TuSimple stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average price of $11.17 per share, for a total transaction of $279,250.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 8,473 shares of company stock worth $110,243.

A number of large investors have recently made changes to their positions in TSP. ARK Investment Management LLC boosted its position in TuSimple by 31.8% during the 1st quarter. ARK Investment Management LLC now owns 13,015,936 shares of the company’s stock valued at $158,794,000 after acquiring an additional 3,142,322 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in TuSimple by 89.4% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 3,818,590 shares of the company’s stock valued at $138,615,000 after acquiring an additional 1,802,652 shares in the last quarter. State Street Corp boosted its position in TuSimple by 196.9% during the 4th quarter. State Street Corp now owns 2,085,210 shares of the company’s stock valued at $74,755,000 after acquiring an additional 1,382,988 shares in the last quarter. BlackRock Inc. boosted its position in TuSimple by 27.4% during the 4th quarter. BlackRock Inc. now owns 5,066,104 shares of the company’s stock valued at $181,620,000 after acquiring an additional 1,090,083 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in TuSimple during the 3rd quarter valued at approximately $27,620,000. Institutional investors own 32.51% of the company’s stock.

NASDAQ:TSP traded down $0.36 during mid-day trading on Monday, hitting $10.37. 1,691,572 shares of the stock traded hands, compared to its average volume of 1,577,556. The business’s 50-day moving average price is $12.13 and its 200 day moving average price is $24.50. The company has a market cap of $2.30 billion and a PE ratio of -1.27. TuSimple has a 12-month low of $8.41 and a 12-month high of $79.84. The company has a quick ratio of 24.20, a current ratio of 24.20 and a debt-to-equity ratio of 0.01.

TuSimple (NASDAQ:TSP – Get Rating) last issued its quarterly earnings data on Wednesday, February 9th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The firm had revenue of $2.05 million for the quarter, compared to analysts’ expectations of $2.19 million. TuSimple had a negative net margin of 11,702.17% and a negative return on equity of 85.13%. Analysts anticipate that TuSimple will post -2.48 earnings per share for the current fiscal year.

About TuSimple (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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