TuSimple (NASDAQ:TSP – Get Rating) Downgraded by Bank of America from a “buy” rating to an “underperform” rating in a report published on Monday, The Fly reports.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada cut shares of TuSimple from a “sector perform” rating to an “underperform” rating in a research report on Monday. Piper Sandler lowered their target price on shares of TuSimple to $14.00 in a research report on Thursday, October 13th. Morgan Stanley decreased 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. Robert W. Baird decreased their target price on shares of TuSimple from $17.00 to $11.00 in a research report on Wednesday, August 3rd. Finally, Truist Financial began coverage on shares of TuSimple in a research report on Wednesday, September 28th. They issued a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. TuSimple currently has an average rating of “Moderate Buy” and a consensus price target of $25.85, according to MarketBeat .
TuSimple down 34.2%
NASDAQ TSP opened at $4.15 on Monday. The company has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $8.23. The company has a market cap of $927.21 million, a P/E ratio of -2.01 and a beta of 1.87. TuSimple has a 1 year low of $5.33 and a 1 year high of $43.79.
TuSimple (NASDAQ:TSP – Get Rating ) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.11. TuSimple had a negative net margin of 5,193.63% and a negative return on equity of 35.11%. The company posted revenue of $2.59 million during the quarter, compared to analysts’ expectations of $4.06 million. equities research analysts forecast that TuSimple will post -2.17 EPS for the current fiscal year.
Hedge funds weigh in on TuSimple
A number of institutional investors have recently added to or reduced their holdings in the company. MetLife Investment Management LLC acquired a new stake in shares of TuSimple in the 1st quarter valued at approximately $41,000. Daiwa Securities Group Inc. increased its position in shares of TuSimple by 45.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,371 shares of the company’s stock valued at $41,000 after purchasing an additional 1,058 shares during the period. Glassman Wealth Services acquired a new stake in shares of TuSimple in the second quarter valued at about $29,000. Captrust Financial Advisors increased its position in shares of TuSimple by 1,183.8% in the second 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 period. Finally, US Bancorp DE increased its position in shares of TuSimple by 295.9% in the second quarter. US Bancorp DE now owns 4,687 shares of the company’s stock valued at $34,000 after acquiring an additional 3,503 shares during the period. 38.25% of the shares are currently owned by institutional investors and hedge funds.
About TuSimple
(get rating)
TuSimple Holdings Inc, an autonomous technology company, develops autonomous technology designed specifically for semi-trucks in the United States and around the world. It intends to produce a line of dedicated L4 (Level 4) autonomous semi-trucks for the North American market. The company operates Autonomous Freight Network (AFN) L4 semi-autonomous trucks equipped with its autonomous driving technology.
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