Tesla (NASDAQ:TSLA) had its price target cut by analysts at Morgan Stanley from $260.00 to $240.00 in a report issued on Monday, The Fly reports. The brokerage currently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price target points to a potential downside of 11.87% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $465.00 target price (up from $411.00) on shares of Tesla in a report on Thursday, December 13th. They noted that the move was a valuation call. Wedbush began coverage on Tesla in a research report on Thursday, December 13th. They issued an “outperform” rating and a $440.00 price objective on the stock. Deutsche Bank started coverage on Tesla in a research note on Thursday, December 13th. They set a “hold” rating on the stock. Goldman Sachs Group reissued a “sell” rating and issued a $225.00 target price on shares of Tesla in a report on Tuesday, December 18th. Finally, BidaskClub cut Tesla from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Fifteen investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Tesla currently has an average rating of “Hold” and a consensus target price of $316.15.

Shares of NASDAQ TSLA opened at $272.31 on Monday. Tesla has a fifty-two week low of $247.77 and a fifty-two week high of $387.46. The company has a market cap of $47.49 billion, a price-to-earnings ratio of -47.61, a price-to-earnings-growth ratio of 4.81 and a beta of 0.35. The company has a quick ratio of 0.52, a current ratio of 0.83 and a debt-to-equity ratio of 1.63.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.93. The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The business’s revenue for the quarter was up 119.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.04) EPS. On average, sell-side analysts anticipate that Tesla will post 1.63 EPS for the current year.

In related news, Director Linda Johnson Rice sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $320.00, for a total value of $544,000.00. Following the transaction, the director now owns 1,700 shares of the company’s stock, valued at $544,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $348.22, for a total transaction of $5,843,131.60. Following the completion of the transaction, the director now directly owns 17,018 shares in the company, valued at approximately $5,926,007.96. The disclosure for this sale can be found here. Insiders have sold a total of 98,040 shares of company stock valued at $29,789,068 in the last ninety days. Insiders own 22.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Polaris Greystone Financial Group LLC lifted its position in shares of Tesla by 3.1% during the 4th quarter. Polaris Greystone Financial Group LLC now owns 1,013 shares of the electric vehicle producer’s stock valued at $337,000 after buying an additional 30 shares in the last quarter. Hanson McClain Inc. grew its stake in shares of Tesla by 3.9% during the 4th quarter. Hanson McClain Inc. now owns 994 shares of the electric vehicle producer’s stock valued at $331,000 after acquiring an additional 37 shares during the period. Regentatlantic Capital LLC grew its stake in shares of Tesla by 5.4% during the 4th quarter. Regentatlantic Capital LLC now owns 879 shares of the electric vehicle producer’s stock valued at $293,000 after acquiring an additional 45 shares during the period. Sage Capital Advisors llc increased its holdings in Tesla by 57.7% in the 4th quarter. Sage Capital Advisors llc now owns 123 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 45 shares in the last quarter. Finally, Garde Capital Inc. increased its holdings in Tesla by 2.3% in the 3rd quarter. Garde Capital Inc. now owns 2,104 shares of the electric vehicle producer’s stock worth $733,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 59.50% 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, Netherlands, 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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The Fly

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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