(Ticker Report) – Tesla (NASDAQ:TSLA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.
A number of other brokerages have also recently weighed in on TSLA. Royal Bank of Canada started coverage on shares of Tesla in a research report on Thursday, October 22nd. They set a “sell” rating and a $339.00 price target for the company. They noted that the move was a valuation call. ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. Needham & Company LLC initiated coverage on shares of Tesla in a research report on Wednesday, September 23rd. They issued a “sell” rating for the company. Argus raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $400.00 to $500.00 in a research report on Wednesday, September 23rd. Eleven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Tesla currently has a consensus rating of “Hold” and a consensus target price of $246.31.
Shares of NASDAQ TSLA opened at $410.36 on Wednesday. The firm has a fifty day moving average of $422.42 and a 200-day moving average of $304.26. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. Tesla has a 52-week low of $65.42 and a 52-week high of $502.49. The stock has a market capitalization of $388.98 billion, a PE ratio of 1,068.65, a P/E/G ratio of 20.46 and a beta of 1.68.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.54. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same quarter in the previous year, the business posted $0.37 earnings per share. Equities research analysts expect that Tesla will post 0.62 EPS for the current fiscal year.
In other news, SVP Andrew D. Baglino sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $387.44, for a total value of $581,160.00. Following the completion of the transaction, the senior vice president now directly owns 21,837 shares in the company, valued at $8,460,527.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 250 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,677.86, for a total transaction of $419,465.00. Following the completion of the transaction, the chief financial officer now owns 11,331 shares of the company’s stock, valued at $19,011,831.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,264 shares of company stock valued at $56,890,119. 23.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Sand Hill Global Advisors LLC lifted its position in Tesla by 375.4% in the 3rd quarter. Sand Hill Global Advisors LLC now owns 908 shares of the electric vehicle producer’s stock worth $390,000 after buying an additional 717 shares in the last quarter. Essex Financial Services Inc. lifted its position in Tesla by 331.8% in the 3rd quarter. Essex Financial Services Inc. now owns 9,236 shares of the electric vehicle producer’s stock worth $3,962,000 after buying an additional 7,097 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its position in Tesla by 385.1% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,300 shares of the electric vehicle producer’s stock worth $558,000 after buying an additional 1,032 shares in the last quarter. Hexagon Capital Partners LLC purchased a new stake in Tesla in the 3rd quarter worth approximately $901,000. Finally, Holloway Wealth Management LLC purchased a new stake in Tesla in the 3rd quarter worth approximately $275,000. Institutional investors own 48.22% of the company’s stock.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, leases, 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.