Tesla (NASDAQ:TSLA) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other brokerages also recently commented on TSLA. Berenberg Bank reissued a “buy” rating and issued a $500.00 target price on shares of Tesla in a report on Wednesday, August 8th. Jefferies Financial Group boosted their target price on Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, August 8th. Needham & Company LLC reissued a “sell” rating on shares of Tesla in a report on Wednesday, August 8th. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $265.00 price objective on shares of Tesla in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $308.00 price objective on shares of Tesla in a report on Wednesday, August 8th. Twelve investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $310.71.

Shares of TSLA opened at $288.95 on Tuesday. The company has a market capitalization of $51.46 billion, a PE ratio of -25.17 and a beta of 0.87. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73. Tesla has a one year low of $244.59 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the consensus estimate 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 return on equity of 50.84% and a negative net margin of 19.89%. Tesla’s revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.33) EPS. sell-side analysts expect that Tesla will post -10.77 EPS for the current fiscal year.

In related news, CEO Elon Musk purchased 55,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were bought at an average price of $343.19 per share, with a total value of $18,875,450.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 1,875 shares of the 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 completion of the transaction, the director now directly owns 150,208 shares in the company, valued at approximately $53,813,518.08. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Northwest Wealth Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $103,000. Macroview Investment Management LLC acquired a new position in shares of Tesla in the 1st quarter valued at $106,000. Institutional & Family Asset Management LLC acquired a new position in shares of Tesla in the 1st quarter valued at $114,000. Stelac Advisory Services LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $114,000. Finally, BerganKDV Wealth Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $124,000. 56.26% of the stock is currently owned by institutional investors.

About Tesla

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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