Tesla Inc (TSLA) Upgraded at Vetr Inc.
Tesla Inc (NASDAQ:TSLA) was upgraded by equities research analysts at Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday. The firm presently has a $273.28 price target on the electric vehicle producer’s stock. Vetr‘s target price points to a potential downside of 15.95% from the stock’s previous close.
TSLA has been the topic of a number of other reports. Deutsche Bank AG reaffirmed a “hold” rating and issued a $215.00 target price on shares of Tesla in a research note on Friday, February 24th. Guggenheim raised their target price on shares of Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research note on Friday, May 5th. Finally, Pacific Crest reaffirmed a “market perform” rating on shares of Tesla in a research note on Monday, May 15th. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $274.06.
Shares of Tesla (NASDAQ:TSLA) traded up 2.62% during mid-day trading on Wednesday, reaching $325.14. 7,802,199 shares of the company’s stock traded hands. The firm has a 50-day moving average of $310.91 and a 200 day moving average of $253.96. Tesla has a 12-month low of $178.19 and a 12-month high of $327.66. The company’s market cap is $53.41 billion. Tesla also was the recipient of unusually large options trading activity on Friday. Investors purchased 104,590 put options on the company. This is an increase of 127% compared to the average volume of 46,176 put options.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. Equities analysts forecast that Tesla will post ($5.80) EPS for the current year.
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In other Tesla news, insider Jeffrey B. Straubel sold 109,100 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total transaction of $33,582,071.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Elon Musk purchased 95,420 shares of the business’s stock in a transaction on Friday, March 17th. The shares were purchased at an average price of $262.00 per share, with a total value of $25,000,040.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 242,791 shares of company stock valued at $74,745,344. 27.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Bristlecone Advisors LLC acquired a new position in Tesla during the first quarter valued at $221,000. Achmea Investment Management B.V. purchased a new stake in shares of Tesla during the first quarter valued at about $1,039,000. Garde Capital Inc. boosted its stake in shares of Tesla by 14.3% in the first quarter. Garde Capital Inc. now owns 2,662 shares of the electric vehicle producer’s stock valued at $741,000 after buying an additional 334 shares during the period. First Financial Equity Corporation purchased a new stake in shares of Tesla during the first quarter valued at about $1,194,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Tesla by 10.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,628 shares of the electric vehicle producer’s stock valued at $1,010,000 after buying an additional 338 shares during the period. Institutional investors own 57.29% of the company’s stock.
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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