Vetr Inc. Lowers Tesla Motors Inc. (TSLA) to Hold
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $208.73 target price on the electric vehicle producer’s stock. Vetr‘s price target suggests a potential upside of 3.87% from the company’s previous close.
TSLA has been the subject of a number of other reports. Robert W. Baird reiterated an “outperform” rating and set a $338.00 price objective on shares of Tesla Motors in a report on Sunday, September 4th. Pacific Crest reiterated a “hold” rating on shares of Tesla Motors in a report on Wednesday, September 28th. Cowen and Company assumed coverage on Tesla Motors in a research note on Thursday, September 8th. They issued an “underperform” rating and a $160.00 price target for the company. Morgan Stanley restated an “equal weight” rating and issued a $245.00 price target on shares of Tesla Motors in a research note on Wednesday, October 5th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $290.00 price target on shares of Tesla Motors in a research note on Wednesday, June 22nd. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Tesla Motors presently has an average rating of “Hold” and an average price target of $246.20.
Shares of Tesla Motors (NASDAQ:TSLA) traded up 2.21% during midday trading on Monday, reaching $200.95. 3,316,297 shares of the company’s stock traded hands. The firm’s market capitalization is $29.88 billion. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34. The stock’s 50 day moving average price is $206.55 and its 200 day moving average price is $221.42.
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Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) earnings per share. On average, equities research analysts anticipate that Tesla Motors will post ($0.93) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares during the period. Trust Co. of Vermont increased its position in Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock worth $114,000 after buying an additional 95 shares during the period. Toronto Dominion Bank increased its position in Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock worth $115,000 after buying an additional 1,305 shares during the period. Proficio Capital Partners LLC increased its position in Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock worth $116,000 after buying an additional 180 shares during the period. Finally, D. Scott Neal Inc. increased its position in Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock worth $121,000 after buying an additional 100 shares during the period. 66.62% of the stock is currently owned by institutional investors and hedge funds.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
To view Vetr’s full report, visit Vetr’s official website.
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