Cheng Lu Sells 129,676 Shares of TuSimple Holdings Inc. (NASDAQ:TSP) Stock

TuSimple Holdings Inc. (NASDAQ:TSPGet Free Report) CEO Cheng Lu sold 129,676 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $0.40, for a total value of $51,870.40. Following the transaction, the chief executive officer now directly owns 2,446,152 shares of the company’s stock, valued at $978,460.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

TuSimple Price Performance

Shares of TSP traded up $0.04 during mid-day trading on Thursday, reaching $0.37. The company’s stock had a trading volume of 6,200,635 shares, compared to its average volume of 4,570,012. The business has a fifty day moving average of $0.83 and a 200 day moving average of $1.27. TuSimple Holdings Inc. has a 1 year low of $0.29 and a 1 year high of $2.89.

TuSimple (NASDAQ:TSPGet Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.27) earnings per share (EPS) for the quarter. TuSimple had a negative net margin of 8,526.32% and a negative return on equity of 38.84%.

Institutional Investors Weigh In On TuSimple

Institutional investors have recently added to or reduced their stakes in the company. GTS Securities LLC acquired a new stake in TuSimple during the second quarter valued at approximately $29,000. Squarepoint Ops LLC bought a new position in shares of TuSimple in the first quarter valued at approximately $30,000. CI Private Wealth LLC bought a new position in TuSimple in the 4th quarter worth approximately $31,000. Captrust Financial Advisors raised its position in TuSimple by 1,183.8% in the 2nd quarter. Captrust Financial Advisors now owns 4,442 shares of the company’s stock worth $32,000 after purchasing an additional 4,096 shares during the last quarter. Finally, Royal Bank of Canada raised its position in TuSimple by 74.8% in the 2nd quarter. Royal Bank of Canada now owns 18,863 shares of the company’s stock worth $32,000 after purchasing an additional 8,072 shares during the last quarter. 24.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HSBC lowered TuSimple from a “hold” rating to a “reduce” rating in a research note on Monday, November 13th.

Read Our Latest Stock Analysis on TSP

About TuSimple

(Get Free Report)

TuSimple Holdings Inc, an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and Asia-Pacific region. 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.

Further Reading

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