TuSimple Holdings Inc. to Post FY2021 Earnings of ($4.43) Per Share, KeyCorp Forecasts (NASDAQ:TSP)

TuSimple Holdings Inc. (NASDAQ:TSP) – Investment analysts at KeyCorp issued their FY2021 earnings estimates for TuSimple in a report issued on Monday, January 10th. KeyCorp analyst T. Fowler expects that the company will post earnings of ($4.43) per share for the year. KeyCorp currently has a “Overweight” rating and a $50.00 price target on the stock. KeyCorp also issued estimates for TuSimple’s Q4 2021 earnings at ($0.56) 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.

TSP has been the topic of several other research reports. Zacks Investment Research downgraded shares of TuSimple from a “hold” rating to a “sell” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of TuSimple in a report on Wednesday, January 5th. China Renaissance Securities began coverage on shares of TuSimple in a report on Tuesday, December 7th. They issued a “hold” rating and a $39.10 price target on the stock. Finally, Royal Bank of Canada lowered their price target on shares of TuSimple from $68.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, November 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $56.84.

TuSimple stock opened at $24.62 on Thursday. The firm’s fifty day moving average is $35.54 and its 200 day 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 posted its quarterly earnings results on Wednesday, November 3rd. The company reported ($0.54) earnings per share 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%. The firm had revenue of $1.79 million during the quarter, compared to the consensus estimate of $1.81 million.

In other TuSimple news, CFO Patrick Dillon sold 1,276 shares of the company’s stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $34.15, for a total value of $43,575.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cheng Lu sold 9,136 shares of the company’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $31.49, for a total value of $287,692.64. The disclosure for this sale can be found here. Insiders sold 20,631 shares of company stock valued at $676,065 over the last three months.

A number of institutional investors have recently bought and sold shares of TSP. Rockefeller Capital Management L.P. boosted its stake in shares of TuSimple by 82.9% during the third quarter. Rockefeller Capital Management L.P. now owns 748 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Alliancebernstein L.P. boosted its stake in TuSimple by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 22,965 shares of the company’s stock worth $853,000 after buying an additional 345 shares during the last quarter. Deutsche Bank AG acquired a new stake in TuSimple in the 2nd quarter worth about $31,000. Metropolitan Life Insurance Co NY acquired a new stake in TuSimple in the 2nd quarter worth about $67,000. Finally, PNC Financial Services Group Inc. acquired a new stake in TuSimple in the 2nd quarter worth about $71,000. 33.44% of the stock is currently owned by institutional investors.

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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