TuSimple (NASDAQ:TSP) Research Coverage Started at KeyCorp

KeyCorp started coverage on shares of TuSimple (NASDAQ:TSP) in a research report sent to investors on Tuesday morning, PriceTargets.com reports. The brokerage issued an overweight rating and a $50.00 price objective on the stock. KeyCorp also issued estimates for TuSimple’s Q4 2021 earnings at ($0.56) EPS, FY2021 earnings at ($4.43) EPS, Q1 2022 earnings at ($0.58) EPS, Q2 2022 earnings at ($0.58) EPS, Q3 2022 earnings at ($0.59) EPS, Q4 2022 earnings at ($0.60) EPS, FY2022 earnings at ($2.35) EPS and FY2023 earnings at ($2.40) EPS.

A number of other research firms have also weighed in on TSP. Zacks Investment Research raised shares of TuSimple from a sell rating to a hold rating in a report on Tuesday, November 9th. Needham & Company LLC reaffirmed a buy rating and set a $60.00 price target on shares of TuSimple in a report on Wednesday, January 5th. Royal Bank of Canada lowered their price target on shares of TuSimple from $68.00 to $55.00 and set an outperform rating for the company in a report on Thursday, November 4th. Finally, China Renaissance Securities started coverage on shares of TuSimple in a report on Tuesday, December 7th. They set a hold rating and a $39.10 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, TuSimple has a consensus rating of Buy and a consensus price target of $56.84.

Shares of TSP stock opened at $24.62 on Tuesday. The company’s fifty day simple moving average is $35.54 and its 200-day simple moving average is $39.54. TuSimple has a 52 week low of $23.47 and a 52 week high of $79.84.

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

In other news, CFO Patrick Dillon sold 1,377 shares of TuSimple stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $31.49, for a total value of $43,361.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cheng Lu sold 8,466 shares of TuSimple stock in a transaction dated Thursday, December 16th. The shares were sold at an average price of $34.15, for a total transaction of $289,113.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,631 shares of company stock valued at $676,065.

Hedge funds and other institutional investors have recently bought and sold shares of the company. DNB Asset Management AS lifted its position in TuSimple by 98.4% in the 4th quarter. DNB Asset Management AS now owns 75,111 shares of the company’s stock valued at $2,693,000 after purchasing an additional 37,257 shares during the last quarter. Balyasny Asset Management LLC lifted its position in TuSimple by 182.5% in the 3rd quarter. Balyasny Asset Management LLC now owns 29,099 shares of the company’s stock valued at $1,080,000 after purchasing an additional 18,799 shares during the last quarter. Bank of New York Mellon Corp lifted its position in TuSimple by 12.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 85,691 shares of the company’s stock valued at $3,182,000 after purchasing an additional 9,183 shares during the last quarter. Janus Henderson Group PLC bought a new stake in TuSimple in the 3rd quarter valued at about $3,565,000. Finally, Brookfield Asset Management Inc. lifted its position in TuSimple by 255.1% in the 3rd quarter. Brookfield Asset Management Inc. now owns 75,000 shares of the company’s stock valued at $2,785,000 after purchasing an additional 53,878 shares during the last quarter. 33.44% of the stock is owned by institutional investors and hedge funds.

About TuSimple

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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