TuSimple (NASDAQ:TSP) Stock Price Up 5.1%

Shares of TuSimple Holdings Inc. (NASDAQ:TSPGet Rating) rose 5.1% during trading on Wednesday . The stock traded as high as $2.27 and last traded at $2.26. Approximately 14,570 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 7,176,335 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSP. 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. JPMorgan Chase & Co. downgraded shares of TuSimple from an “overweight” rating to an “underweight” rating in a research report on Tuesday, November 1st. Truist Financial cut shares of TuSimple from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Citigroup downgraded shares of TuSimple from a “buy” rating to a “sell” rating in a research report on Monday, October 31st. Finally, Royal Bank of Canada cut shares of TuSimple from a “sector perform” rating to an “underperform” rating in a research note on Monday, October 31st. Four analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.11.

TuSimple Stock Up 9.8 %

The company has a market capitalization of $527.29 million, a P/E ratio of -1.17 and a beta of 0.89. The company has a 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $7.22.

TuSimple (NASDAQ:TSPGet Rating) last announced its quarterly earnings results on Monday, October 31st. The company reported ($0.50) earnings per share 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 firm had revenue of $2.65 million during the quarter, compared to analysts’ expectations of $2.32 million. As a group, research analysts expect that TuSimple Holdings Inc. will post -2.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC boosted its position in TuSimple by 10.5% during the second quarter. Axxcess Wealth Management LLC now owns 13,697 shares of the company’s stock worth $99,000 after acquiring an additional 1,298 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of TuSimple by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,876 shares of the company’s stock valued at $218,000 after purchasing an additional 1,696 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of TuSimple by 25.8% in the 1st quarter. GSA Capital Partners LLP now owns 10,617 shares of the company’s stock valued at $130,000 after purchasing an additional 2,175 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of TuSimple by 33.2% in the 1st quarter. FDx Advisors Inc. now owns 10,238 shares of the company’s stock valued at $125,000 after purchasing an additional 2,554 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of TuSimple by 31.4% in the 2nd quarter. Arizona State Retirement System now owns 13,425 shares of the company’s stock valued at $97,000 after purchasing an additional 3,206 shares during the last quarter. 38.25% of the stock is owned by hedge funds and other 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.

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