TuSimple Holdings Inc. (NASDAQ:TSP) Receives Average Recommendation of “Buy” from Analysts

TuSimple Holdings Inc. (NASDAQ:TSP) has been given an average recommendation of “Buy” by the seventeen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $56.84.

Several brokerages recently weighed in on TSP. KeyCorp began coverage on TuSimple in a report on Tuesday. They set an “overweight” rating and a $50.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of TuSimple in a report on Wednesday, January 5th. Royal Bank of Canada dropped their price objective on TuSimple from $68.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, November 4th. China Renaissance Securities started coverage on TuSimple in a report on Tuesday, December 7th. They issued a “hold” rating and a $39.10 price objective for the company. Finally, Zacks Investment Research cut TuSimple from a “hold” rating to a “sell” rating in a report on Thursday.

Shares of TSP stock opened at $24.62 on Friday. TuSimple has a 1-year low of $23.47 and a 1-year high of $79.84. The business has a 50-day moving average of $35.54 and a 200 day moving average of $39.54.

TuSimple (NASDAQ:TSP) last issued its earnings results on Wednesday, November 3rd. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.04). The company had revenue of $1.79 million for the quarter, compared to analysts’ expectations of $1.81 million. TuSimple had a negative net margin of 13,172.03% and a negative return on equity of 152.46%. As a group, equities research analysts expect that TuSimple will post -3.7 EPS for the current fiscal year.

In related news, CEO Cheng Lu sold 9,136 shares of the firm’s stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $31.49, for a total transaction of $287,692.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patrick Dillon sold 1,377 shares of the firm’s stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $31.49, for a total value of $43,361.73. The disclosure for this sale can be found here. Insiders sold a total of 20,631 shares of company stock valued at $676,065 in the last three months.

Hedge funds have recently bought and sold shares of the stock. Capital International Investors bought a new stake in shares of TuSimple in the 2nd quarter worth $581,577,000. BlackRock Inc. bought a new stake in shares of TuSimple in the 2nd quarter worth $310,946,000. FMR LLC bought a new stake in shares of TuSimple in the 2nd quarter worth $223,835,000. Vanguard Group Inc. bought a new stake in shares of TuSimple in the 2nd quarter worth $179,773,000. Finally, Aspex Management HK Ltd bought a new stake in shares of TuSimple in the 2nd quarter worth $151,145,000. 33.44% of the stock is owned by institutional investors.

TuSimple Company Profile

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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Analyst Recommendations for TuSimple (NASDAQ:TSP)

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