TuSimple Holdings Inc. (NASDAQ:TSP) Receives $28.74 Average Target Price from Brokerages

Shares of TuSimple Holdings Inc. (NASDAQ:TSP – Get Rating) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $28.19.

TSP has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on TuSimple from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. JPMorgan Chase & Co. cut their target price on TuSimple from $50.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Robert W. Baird cut their price objective on TuSimple from $17.00 to $11.00 in a research report on Wednesday. Royal Bank of Canada cut TuSimple from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $14.00 to $7.00 in a research report on Friday, May 13th. Finally, KeyCorp decreased their price objective on TuSimple from $40.00 to $30.00 in a research note on Thursday, May 12th.

TuSimple Price Performance

TSP stock opened at $9.40 on Wednesday. TuSimple has a fifty-two week low of $5.99 and a fifty-two week high of $50.30. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -4.56 and a beta of 2.33. The business’s fifty day moving average price is $8.44 and its two-hundred day moving average price is $11.32.

TuSimple (NASDAQ:TSP – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.07. The business had revenue of $2.26 million for the quarter, compared to analyst estimates of $3.73 million. TuSimple had a negative return on equity of 34.01% and a negative net margin of 5,193.63%. During the same period last year, the firm posted ($6.43) earnings per share. Research analysts expect that TuSimple will post -2.46 EPS for the current year.

Institutional Trading of TuSimple

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in TuSimple in the fourth quarter valued at $181,000. Renaissance Capital LLC lifted its stake in TuSimple by 238.7% in the 4th quarter. Renaissance Capital LLC now owns 54,049 shares of the company’s stock valued at $1,938,000 after buying an additional 38,093 shares in the last quarter. Fifth Third Bancorp acquired a new stake in TuSimple in the 4th quarter valued at about $108,000. New York State Common Retirement Fund raised its holdings in TuSimple by 361.3% in the 4th quarter. New York State Common Retirement Fund now owns 150,400 shares of the company’s stock valued at $5,392,000 after acquiring an additional 117,800 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in TuSimple in the 4th quarter valued at about $83,000. Hedge funds and other institutional investors own 43.89% of the company’s stock.

About TuSimple

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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.