TuSimple (NASDAQ:TSP) Trading 5.4% Higher

TuSimple Holdings Inc. (NASDAQ:TSP) shares rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $37.23 and last traded at $37.23. Approximately 2,288 shares were traded during trading, a decline of 100% from the average daily volume of 1,788,959 shares. The stock had previously closed at $35.33.

Several analysts have commented on the stock. CICC Research began coverage on shares of TuSimple in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $78.70 target price for the company. Morgan Stanley increased their price objective on shares of TuSimple from $48.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, July 8th. Finally, Zacks Investment Research cut shares of TuSimple from a “hold” rating to a “sell” rating in a research note on Thursday, October 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, TuSimple has a consensus rating of “Buy” and a consensus price target of $58.64.

The business has a 50-day simple moving average of $38.46.

TuSimple (NASDAQ:TSP) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.18). The business had revenue of $1.48 million for the quarter, compared to the consensus estimate of $1.23 million. Analysts anticipate that TuSimple Holdings Inc. will post -3.64 EPS for the current fiscal year.

In other news, insider Cheng Lu sold 44,375 shares of the company’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $42.56, for a total value of $1,888,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Mullen sold 3,016 shares of the company’s stock in a transaction dated Thursday, September 30th. The shares were sold at an average price of $36.83, for a total transaction of $111,079.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,450 shares of company stock valued at $8,592,771.

Institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC acquired a new stake in TuSimple during the second quarter worth about $544,000. Morgan Stanley acquired a new stake in TuSimple during the second quarter worth about $6,690,000. Wells Fargo & Company MN acquired a new stake in TuSimple during the second quarter worth about $380,000. Woodline Partners LP acquired a new stake in TuSimple during the second quarter worth about $10,321,000. Finally, Zimmer Partners LP acquired a new stake in TuSimple during the second quarter worth about $2,850,000. Institutional investors and hedge funds own 26.57% of the company’s stock.

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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