Morningstar set a $179.00 price objective on Tesla (NASDAQ:TSLA) in a research note released on Wednesday. The firm currently has a sell rating on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. KeyCorp set a $300.00 price target on shares of Tesla and gave the company a hold rating in a report on Tuesday, July 3rd. Goldman Sachs Group reiterated a sell rating on shares of Tesla in a research note on Sunday, July 8th. ValuEngine upgraded shares of Tesla from a sell rating to a hold rating in a research note on Saturday, June 2nd. Royal Bank of Canada raised their target price on shares of Tesla to $315.00 and gave the company a positive rating in a research note on Thursday, August 2nd. Finally, Barclays set a $210.00 target price on shares of Tesla and gave the company a sell rating in a research note on Monday, August 27th. Fourteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $312.54.

Shares of Tesla stock traded up $2.34 during midday trading on Wednesday, reaching $311.92. 70,111 shares of the company’s stock traded hands, compared to its average volume of 8,305,635. The company has a market capitalization of $51.35 billion, a P/E ratio of -27.01 and a beta of 0.87. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01. Tesla has a 52 week low of $244.59 and a 52 week high of $387.46.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.55. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. Tesla’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.33) EPS. equities research analysts predict that Tesla will post -10.77 earnings per share for the current year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $358.26, for a total value of $671,737.50. Following the sale, the director now directly owns 150,208 shares in the company, valued at approximately $53,813,518.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in shares of Tesla by 33.6% during the 2nd quarter. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer’s stock valued at $1,485,724,000 after acquiring an additional 1,089,377 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of Tesla by 74,343.1% during the 1st quarter. Summit Trail Advisors LLC now owns 583,634 shares of the electric vehicle producer’s stock valued at $584,000 after acquiring an additional 582,850 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Tesla by 3.1% during the 2nd quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock valued at $4,517,269,000 after acquiring an additional 395,727 shares in the last quarter. Soma Equity Partners LP acquired a new stake in shares of Tesla during the 1st quarter valued at about $45,242,000. Finally, SG Americas Securities LLC boosted its position in shares of Tesla by 239.9% during the 2nd quarter. SG Americas Securities LLC now owns 190,942 shares of the electric vehicle producer’s stock valued at $65,484,000 after acquiring an additional 134,759 shares in the last quarter. Institutional investors own 62.00% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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