Tesla Inc. (TSLA) Rating Lowered to Buy at BidaskClub
Tesla Inc. (NASDAQ:TSLA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.
Several other brokerages also recently commented on TSLA. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective on the stock in a research report on Tuesday, April 25th. Vetr downgraded Tesla from a “sell” rating to a “strong sell” rating and set a $277.96 price objective on the stock. in a research report on Tuesday, May 9th. Deutsche Bank AG restated a “hold” rating and issued a $240.00 price objective on shares of Tesla in a research report on Thursday, May 4th. Robert W. Baird set a $368.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, FBN Securities boosted their price objective on Tesla from $275.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, April 3rd. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Tesla currently has an average rating of “Hold” and an average target price of $288.17.
Shares of Tesla (TSLA) traded up 0.7096% during trading on Tuesday, reaching $372.4241. The company’s stock had a trading volume of 2,549,938 shares. The company has a 50 day moving average of $333.23 and a 200 day moving average of $273.66. Tesla has a 12-month low of $178.19 and a 12-month high of $384.25. The company’s market cap is $61.17 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. On average, analysts anticipate that Tesla will post ($5.80) EPS for the current fiscal year.
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In other Tesla news, insider Jeffrey B. Straubel sold 106,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $307.44, for a total transaction of $32,588,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Douglas Field sold 500 shares of the company’s stock in a transaction on Friday, April 7th. The stock was sold at an average price of $301.45, for a total value of $150,725.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,791 shares of company stock valued at $74,745,344. 23.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Baillie Gifford & Co. raised its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares in the last quarter. Vanguard Group Inc. raised its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares in the last quarter. Jennison Associates LLC raised its stake in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Tesla by 4.1% in the first quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer’s stock worth $338,313,000 after buying an additional 47,550 shares in the last quarter. Institutional investors own 63.77% 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.
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