Tesla (NASDAQ:TSLA) was upgraded by Vetr from a “strong sell” rating to a “sell” rating in a report issued on Wednesday. The firm currently has a $293.06 price objective on the electric vehicle producer’s stock. Vetr‘s price target would suggest a potential downside of 10.92% from the company’s current price.

TSLA has been the subject of a number of other research reports. ValuEngine upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “hold” rating in a report on Monday, November 13th. Barclays reiterated a “sell” rating on shares of Tesla in a report on Sunday, October 15th. Royal Bank of Canada cut their price target on shares of Tesla from $345.00 to $340.00 and set a “sector perform” rating for the company in a report on Thursday, November 2nd. Finally, Nomura reiterated a “buy” rating and issued a $500.00 price target on shares of Tesla in a report on Tuesday, October 31st. Thirteen research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Tesla has an average rating of “Hold” and a consensus price target of $331.43.

Shares of Tesla (NASDAQ:TSLA) traded down $2.12 on Wednesday, hitting $328.98. 5,907,296 shares of the stock were exchanged, compared to its average volume of 6,110,000. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla has a 1-year low of $202.50 and a 1-year high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. equities research analysts forecast that Tesla will post -11.38 EPS for the current fiscal year.

In other Tesla news, VP John Douglas Field sold 600 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total transaction of $180,960.00. Following the sale, the vice president now directly owns 21,424 shares of the company’s stock, valued at approximately $6,461,478.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $341.69, for a total transaction of $748,301.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,817 shares of company stock worth $4,171,699. 23.10% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC acquired a new stake in shares of Tesla during the 3rd quarter worth about $100,000. Pittenger & Anderson Inc. boosted 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 purchasing an additional 50 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Tesla during the 3rd quarter worth about $106,000. First Eagle Investment Management LLC boosted its position in shares of Tesla by 285.7% in the second quarter. First Eagle Investment Management LLC now owns 405 shares of the electric vehicle producer’s stock worth $146,000 after acquiring an additional 300 shares during the last quarter. Finally, First Personal Financial Services acquired a new stake in shares of Tesla in the third quarter worth approximately $148,000. 57.12% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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