Tesla Inc. (TSLA) Downgraded to Sell at Vetr Inc.
Tesla Inc. (NASDAQ:TSLA) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Tuesday. They currently have a $335.57 price objective on the electric vehicle producer’s stock. Vetr‘s price objective points to a potential downside of 7.76% from the stock’s previous close.
Several other equities analysts have also commented on the stock. UBS AG restated a “sell” rating and set a $160.00 price target on shares of Tesla in a research report on Wednesday, May 3rd. Robert W. Baird restated an “outperform” rating and set a $411.00 price target (up previously from $368.00) on shares of Tesla in a research report on Monday. Morgan Stanley upped their price target on shares of Tesla from $305.00 to $317.00 and gave the stock an “equal weight” rating in a research report on Monday. Argus restated a “hold” rating on shares of Tesla in a research report on Thursday, May 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $345.00 price target (up previously from $314.00) on shares of Tesla in a research report on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. Tesla currently has an average rating of “Hold” and an average price target of $310.34.
Tesla (TSLA) opened at 363.80 on Tuesday. The firm’s 50-day moving average is $340.57 and its 200 day moving average is $308.64. The stock’s market capitalization is $60.71 billion. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) earnings per share. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla will post ($6.31) earnings per share for the current year.
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In related news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares in the company, valued at $51,505,652.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TSLA. FMR LLC increased its position in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Baillie Gifford & Co. increased its position in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares in the last quarter. Vanguard Group Inc. increased its position in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after buying an additional 292,602 shares in the last quarter. Capital World Investors increased its position in Tesla by 0.6% in the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after buying an additional 17,452 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Tesla by 4.3% in the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after buying an additional 124,511 shares in the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
To view Vetr’s full report, visit Vetr’s official website.
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