SG Americas Securities LLC Makes New $388,000 Investment in TuSimple Holdings Inc. (NASDAQ:TSP)

SG Americas Securities LLC purchased a new position in shares of TuSimple Holdings Inc. (NASDAQ:TSPGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,661 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in shares of TuSimple by 45.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,371 shares of the company’s stock valued at $41,000 after acquiring an additional 1,058 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of TuSimple by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 17,876 shares of the company’s stock valued at $218,000 after acquiring an additional 1,696 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of TuSimple by 25.8% in the first quarter. GSA Capital Partners LLP now owns 10,617 shares of the company’s stock valued at $130,000 after acquiring an additional 2,175 shares during the last quarter. FDx Advisors Inc. raised its stake in shares of TuSimple by 33.2% in the first quarter. FDx Advisors Inc. now owns 10,238 shares of the company’s stock valued at $125,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Gladius Capital Management LP raised its stake in shares of TuSimple by 57.4% in the first quarter. Gladius Capital Management LP now owns 7,951 shares of the company’s stock valued at $98,000 after acquiring an additional 2,898 shares during the last quarter. Institutional investors own 38.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TSP shares. Royal Bank of Canada cut shares of TuSimple from a “sector perform” rating to an “underperform” rating in a research note on Monday, October 31st. Truist Financial initiated coverage on shares of TuSimple in a research report on Wednesday, September 28th. They issued a “buy” rating and a $12.00 price objective for the company. Piper Sandler cut shares of TuSimple from an “overweight” rating to a “neutral” rating in a research report on Monday, October 31st. They noted that the move was a valuation call. Bank of America cut shares of TuSimple from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $14.00 to $5.50 in a research report on Monday, October 31st. Finally, Oppenheimer cut shares of TuSimple from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.11.

TuSimple Stock Down 9.5 %

Shares of TSP stock opened at $2.58 on Friday. TuSimple Holdings Inc. has a 12-month low of $2.53 and a 12-month high of $43.79. The firm has a market capitalization of $576.45 million, a price-to-earnings ratio of -1.28 and a beta of 0.89. The firm has a fifty day moving average of $6.69 and a 200-day moving average of $7.97.

TuSimple (NASDAQ:TSPGet Rating) last announced its quarterly earnings results on Monday, October 31st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.08. TuSimple had a negative net margin of 4,697.76% and a negative return on equity of 36.09%. The company had revenue of $2.65 million during the quarter, compared to analyst estimates of $2.32 million. Research analysts expect that TuSimple Holdings Inc. will post -2.1 earnings per share for the current year.

About TuSimple

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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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Institutional Ownership by Quarter for TuSimple (NASDAQ:TSP)

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