Tesla Inc. (NASDAQ:TSLA) Upgraded by Vetr Inc. to “Strong-Buy”
Tesla Inc. (NASDAQ:TSLA) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $367.97 price target on the electric vehicle producer’s stock. Vetr‘s price target points to a potential upside of 15.21% from the stock’s current price.
A number of other research analysts have also issued reports on the stock. Royal Bank Of Canada restated a “hold” rating and set a $314.00 target price on shares of Tesla in a research report on Wednesday, July 12th. Cowen and Company restated an “underperform” rating and set a $155.00 target price on shares of Tesla in a research report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 5th. Robert W. Baird restated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Wednesday, July 5th. Finally, Guggenheim restated a “buy” rating and set a $430.00 target price (up previously from $380.00) on shares of Tesla in a research report on Wednesday, July 5th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $294.15.
Tesla (NASDAQ:TSLA) traded down 2.50% during mid-day trading on Monday, hitting $319.57. The stock had a trading volume of 9,876,912 shares. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99. The company’s market cap is $52.49 billion. The company has a 50-day moving average price of $346.84 and a 200 day moving average price of $283.13.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ 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 company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Equities research analysts forecast that Tesla will post ($5.86) EPS for the current fiscal year.
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In other Tesla news, Director Kimbal Musk sold 2,500 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $315.67, for a total value of $789,175.00. Following the completion of the sale, the director now directly owns 168,355 shares in the company, valued at $53,144,622.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey B. Straubel sold 109,100 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total transaction of $33,582,071.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,290 shares of company stock valued at $74,919,505. 23.10% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. V Wealth Management LLC bought a new stake in Tesla during the second quarter worth approximately $150,000. B & T Capital Management DBA Alpha Capital Management bought a new stake in Tesla during the second quarter worth approximately $344,000. CENTRAL TRUST Co boosted its stake in Tesla by 13.1% in the second quarter. CENTRAL TRUST Co now owns 1,810 shares of the electric vehicle producer’s stock worth $654,000 after buying an additional 209 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in Tesla by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 2,589 shares of the electric vehicle producer’s stock worth $936,000 after buying an additional 74 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Tesla by 514.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,225 shares of the electric vehicle producer’s stock worth $7,675,000 after buying an additional 17,769 shares during the last quarter. Institutional investors and hedge funds own 63.75% of the company’s stock.
Tesla Company Profile
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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