TuSimple (NASDAQ:TSP) Stock Price Up 3.2%

TuSimple Holdings Inc. (NASDAQ:TSPGet Rating) shares rose 3.2% during mid-day trading on Friday . The stock traded as high as $7.16 and last traded at $7.08. Approximately 35,201 shares changed hands during trading, a decline of 99% from the average daily volume of 2,364,693 shares. The stock had previously closed at $6.86.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TSP. China Renaissance raised TuSimple from a “hold” rating to a “buy” rating and cut their price objective for the company from $39.10 to $15.50 in a research note on Thursday, May 26th. China Renaissance raised shares of TuSimple from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $39.10 to $15.50 in a report on Thursday, May 26th. Robert W. Baird lowered their target price on shares of TuSimple from $17.00 to $11.00 in a research note on Wednesday, August 3rd. Finally, Morgan Stanley cut their target price on shares of TuSimple from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.19.

TuSimple Stock Performance

The business’s 50 day moving average price is $8.46 and its 200-day moving average price is $9.16. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -3.42 and a beta of 2.47.

TuSimple (NASDAQ:TSPGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.11. The business had revenue of $2.59 million for the quarter, compared to analysts’ expectations of $4.06 million. TuSimple had a negative net margin of 5,193.63% and a negative return on equity of 35.11%. On average, equities research analysts expect that TuSimple Holdings Inc. will post -2.23 earnings per share for the current fiscal year.

Institutional Trading of TuSimple

Large investors have recently bought and sold shares of the stock. Glassman Wealth Services acquired a new stake in shares of TuSimple during the second quarter worth approximately $29,000. Captrust Financial Advisors raised 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 purchasing an additional 4,096 shares during the last quarter. US Bancorp DE grew its holdings in shares of TuSimple by 295.9% during the second quarter. US Bancorp DE now owns 4,687 shares of the company’s stock worth $34,000 after purchasing an additional 3,503 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of TuSimple in the second quarter valued at $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of TuSimple in the second quarter valued at about $37,000. 38.25% of the stock is currently owned by institutional investors.

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.

Further Reading

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