Vetr Lowers Tesla (TSLA) to Strong Sell
Vetr lowered shares of Tesla (NASDAQ:TSLA) from a sell rating to a strong sell rating in a research note released on Monday. Vetr currently has $283.06 price target on the electric vehicle producer’s stock.
Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a neutral rating in a research report on Wednesday, September 20th. Jefferies Group began coverage on Tesla in a research report on Tuesday, September 19th. They set an underperform rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Instinet began coverage on Tesla in a research report on Wednesday, October 4th. They set a buy rating and a $500.00 price target on the stock. Morgan Stanley lifted their price target on Tesla from $305.00 to $317.00 and gave the company an equal weight rating in a research report on Monday, August 14th. Finally, Nomura began coverage on Tesla in a research report on Wednesday, October 4th. They set a buy rating and a $500.00 price target on the stock. Thirteen equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Tesla has a consensus rating of Hold and an average price target of $331.04.
Shares of Tesla (TSLA) traded up $2.83 during mid-day trading on Monday, hitting $340.72. The stock had a trading volume of 3,513,019 shares, compared to its average volume of 6,386,200. Tesla has a one year low of $197.39 and a one year high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. research analysts expect that Tesla will post -11.38 earnings per share for the current year.
In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total transaction of $748,301.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $339.49, for a total value of $589,354.64. Following the transaction, the vice president now owns 1,736 shares in the company, valued at approximately $589,354.64. The disclosure for this sale can be found here. Insiders have sold 11,417 shares of company stock worth $3,694,761 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new position in shares of Tesla during the third quarter valued at $100,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Tesla during the third quarter valued at $106,000. Pittenger & Anderson Inc. grew its holdings in shares of Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Tesla by 285.7% during the second quarter. First Eagle Investment Management LLC now owns 405 shares of the electric vehicle producer’s stock valued at $146,000 after buying an additional 300 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in shares of Tesla during the third quarter valued at $148,000. Institutional investors and hedge funds own 57.20% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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