Tesla (TSLA) Shares Gap Down on Analyst Downgrade
Tesla Inc (NASDAQ:TSLA) gapped down prior to trading on Thursday after Roth Capital lowered their price target on the stock from $270.00 to $240.00. The stock had previously closed at $283.82, but opened at $276.06. Roth Capital currently has a neutral rating on the stock. Tesla shares last traded at $268.42, with a volume of 9784367 shares traded.
A number of other research analysts have also commented on the company. Barclays set a $192.00 price target on Tesla and gave the stock a “sell” rating in a report on Tuesday. Nomura began coverage on Tesla in a report on Tuesday. They set a “neutral” rating and a $300.00 price target for the company. Jefferies Financial Group set a $400.00 price target on Tesla and gave the stock a “buy” rating in a report on Monday. UBS Group reiterated a “sell” rating and set a $200.00 price target on shares of Tesla in a report on Monday. Finally, Morgan Stanley cut their price target on Tesla from $260.00 to $240.00 and set an “equal weight” rating for the company in a report on Monday. Fifteen equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Tesla currently has a consensus rating of “Hold” and a consensus target price of $315.29.
In other news, Director Antonio J. Gracias sold 16,780 shares of the stock in a transaction 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 sale, the director now owns 17,018 shares in the company, valued at $5,926,007.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $293.66, for a total value of $4,404,900.00. Following the sale, the insider now owns 321,398 shares in the company, valued at approximately $94,381,736.68. The disclosure for this sale can be found here. Insiders have sold 98,040 shares of company stock worth $29,789,068 in the last 90 days. Company insiders own 22.80% of the company’s stock.
The stock has a market capitalization of $47.03 billion, a P/E ratio of -46.93, a PEG ratio of 4.77 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 released its quarterly earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.93. The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.09 billion. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. Tesla’s revenue was up 119.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.04) earnings per share. On average, equities research analysts predict that Tesla Inc will post 1.63 earnings per share for the current fiscal year.
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About Tesla (NASDAQ:TSLA)
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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