Tesla Inc. (TSLA) Stock Rating Lowered by Standpoint Research
Tesla Inc. (NASDAQ:TSLA) was downgraded by analysts at Standpoint Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Several other equities research analysts also recently weighed in on TSLA. Vetr raised Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 price target for the company in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price target (down previously from $190.00) on shares of Tesla in a report on Monday, July 31st. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a “neutral” rating in a report on Thursday, July 27th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 price target on shares of Tesla in a report on Thursday, August 3rd. Finally, Guggenheim reissued a “buy” rating and issued a $430.00 price target (up previously from $380.00) on shares of Tesla in a report on Wednesday, July 5th. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $324.87.
Shares of Tesla (NASDAQ TSLA) traded down 0.57% during trading on Wednesday, reaching $353.31. 1,223,917 shares of the company were exchanged. The firm’s 50 day moving average is $354.05 and its 200 day moving average is $333.37. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s market capitalization is $58.96 billion.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company 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 ($6.28) EPS for the current fiscal year.
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In other Tesla news, VP Eric Branderiz sold 99 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the sale, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold a total of 51,446 shares of company stock valued at $17,504,929 over the last ninety days. 23.10% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of TSLA. Pittenger & Anderson Inc. raised its stake in shares of Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Tesla by 1,213.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. raised its stake in shares of Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in shares of Tesla during the 2nd quarter worth approximately $122,000. Finally, North Star Investment Management Corp. raised its stake in shares of Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares in the last quarter. 56.63% of the stock is owned by institutional investors and hedge funds.
Tesla Company Profile
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.
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