TuSimple (NASDAQ:TSP) Shares Up 7.5%

Shares of TuSimple Holdings Inc. (NASDAQ:TSP) shot up 7.5% during trading on Friday . The company traded as high as $41.17 and last traded at $41.02. 19,717 shares traded hands during trading, a decline of 99% from the average session volume of 1,691,131 shares. The stock had previously closed at $38.17.

A number of brokerages recently commented on TSP. Royal Bank of Canada dropped their price target on shares of TuSimple from $68.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 4th. Zacks Investment Research upgraded shares of TuSimple from a “sell” rating to a “hold” rating in a research note on Tuesday, November 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $58.89.

The stock’s fifty day moving average price is $38.14 and its 200 day moving average price is $41.88.

TuSimple (NASDAQ:TSP) last issued its quarterly 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 return on equity of 152.46% and a negative net margin of 13,172.03%. As a group, equities analysts anticipate that TuSimple Holdings Inc. will post -3.45 earnings per share for the current year.

In related news, insider James Mullen sold 3,016 shares of the stock in a transaction on Thursday, September 30th. The shares were sold at an average price of $36.83, for a total transaction of $111,079.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cheng Lu sold 40,648 shares of the firm’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $44.18, for a total transaction of $1,795,828.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,450 shares of company stock worth $8,592,771.

A number of institutional investors have recently made changes to their positions in TSP. Capital International Investors purchased a new stake in shares of TuSimple in the 2nd quarter worth about $581,577,000. ARK Investment Management LLC purchased a new stake in shares of TuSimple in the 2nd quarter worth about $461,118,000. BlackRock Inc. purchased a new stake in shares of TuSimple in the 2nd quarter worth about $310,946,000. FMR LLC purchased a new stake in shares of TuSimple in the 2nd quarter worth about $223,835,000. Finally, Vanguard Group Inc. purchased a new stake in shares of TuSimple in the 2nd quarter worth about $179,773,000. 34.99% of the stock is currently owned by institutional investors and hedge funds.

TuSimple Company Profile (NASDAQ:TSP)

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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