JPMorgan reaffirms sell rating on Tesla

(Ticker Report) – JPMorgan Chase & Co. reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a report released on Wednesday morning, AnalystRatings reports. They currently have a $65.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of several other reports. Piper Sandler reaffirmed an overweight rating and set a $187.80 target price on shares of Tesla in a research note on Tuesday, July 14th. BidaskClub raised Tesla from a buy rating to a strong-buy rating in a report on Thursday, September 17th. Daiwa Capital Markets downgraded Tesla from an outperform rating to a neutral rating in a research report on Friday, July 24th. Robert W. Baird raised their price target on Tesla from $196.80 to $331.60 in a report on Thursday, July 23rd. Finally, Needham & Company LLC reaffirmed a sell rating on shares of Tesla in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $201.53.

NASDAQ:TSLA opened at $407.34 on Wednesday. The stock has a 50-day moving average price of $390.43 and a 200 day moving average price of $232.92. The stock has a market capitalization of $377.55 billion, a P/E ratio of 1,060.78, a P/E/G ratio of 15.47 and a beta of 1.63. Tesla has a 12-month low of $44.86 and a 12-month high of $502.49. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.91. The business had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $4.96 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same period in the prior year, the company posted ($0.22) EPS. On average, research analysts predict that Tesla will post 0.69 earnings per share for the current fiscal year.

In other Tesla news, CFO Zachary Kirkhorn sold 250 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $1,513.45, for a total value of $378,362.50. Following the completion of the sale, the chief financial officer now directly owns 11,581 shares of the company’s stock, valued at approximately $17,527,264.45. The transaction was disclosed in a filing with the SEC, which is available through this link.

Also, insider Jerome M. Guillen sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1,083.50, for a total transaction of $3,250,500.00. Following the completion of the transaction, the insider now owns 12,752 shares in the company, valued at $13,816,792. The disclosure for this sale can be found here. Insiders have sold 68,404 shares of company stock valued at $69,328,343 over the last three months. Insiders own 23.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. grew its stake in Tesla by 5.8% in the second quarter. North Star Investment Management Corp. now owns 147 shares of the electric vehicle producer’s stock worth $159,000 after purchasing an additional 8 shares in the last quarter. American Research & Management Co. lifted its holdings in shares of Tesla by 5.8% in the 2nd quarter. American Research & Management Co. now owns 145 shares of the electric vehicle producer’s stock worth $157,000 after buying an additional 8 shares during the period. Main Street Research LLC grew its position in shares of Tesla by 1.5% during the 2nd quarter.

Main Street Research LLC now owns 537 shares of the electric vehicle producer’s stock worth $580,000 after buying an additional 8 shares in the last quarter. Front Row Advisors LLC increased its stake in shares of Tesla by 0.5% during the second quarter. Front Row Advisors LLC now owns 1,509 shares of the electric vehicle producer’s stock valued at $1,629,000 after buying an additional 8 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV raised its holdings in shares of Tesla by 2.2% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 412 shares of the electric vehicle producer’s stock valued at $445,000 after acquiring an additional 9 shares in the last quarter. 48.22% of the stock is owned by hedge funds and other institutional investors.

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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