Tesla (NASDAQ:TSLA) has been assigned a $291.00 price objective by equities research analysts at Morgan Stanley in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 1.58% from the company’s previous close.

TSLA has been the subject of a number of other research reports. Zacks Investment Research downgraded Tesla from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Goldman Sachs reduced their target price on Tesla from $205.00 to $195.00 and set a “sell” rating for the company in a report on Tuesday, April 10th. Vetr downgraded Tesla from a “hold” rating to a “sell” rating and set a $341.15 target price for the company. in a report on Monday, February 26th. KeyCorp reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 4th. Finally, BidaskClub raised Tesla from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Thirteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $301.70.

Shares of Tesla opened at $286.48 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.74 and a quick ratio of 0.44. Tesla has a 1-year low of $281.73 and a 1-year high of $286.71. The firm has a market cap of $49.57 billion, a P/E ratio of -24.95 and a beta of 1.11.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.40) by ($0.95). Tesla had a negative return on equity of 40.72% and a negative net margin of 18.77%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the business earned ($1.33) earnings per share. Tesla’s revenue for the quarter was up 26.4% compared to the same quarter last year. sell-side analysts predict that Tesla will post -10.94 earnings per share for the current fiscal year.

In related news, CEO Elon Musk acquired 33,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average price of $298.50 per share, for a total transaction of $9,850,500.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, VP Eric Branderiz sold 401 shares of Tesla stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $353.50, for a total value of $141,753.50. Following the sale, the vice president now owns 1,248 shares of the company’s stock, valued at approximately $441,168. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,728 shares of company stock valued at $1,172,762. 22.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Truewealth LLC acquired a new stake in Tesla in the 4th quarter worth about $102,000. Macroview Investment Management LLC acquired a new stake in Tesla in the 1st quarter worth about $106,000. Jacobi Capital Management LLC boosted its stake in Tesla by 154.4% in the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 261 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new stake in Tesla in the 1st quarter worth about $114,000. Finally, Avestar Capital LLC acquired a new stake in Tesla in the 4th quarter worth about $144,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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