Tesla Inc. (NASDAQ:TSLA) Downgraded to Buy at Vetr Inc.
Tesla Inc. (NASDAQ:TSLA) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $371.27 price target on the electric vehicle producer’s stock. Vetr‘s price target suggests a potential upside of 8.39% from the company’s previous close.
Other equities analysts have also issued reports about the stock. UBS AG reaffirmed a “sell” rating and issued a $160.00 price objective on shares of Tesla in a research report on Wednesday, May 3rd. Pacific Crest lowered shares of Tesla to a “hold” rating in a research report on Wednesday, April 5th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, May 11th. Guggenheim reissued a “buy” rating and set a $320.00 price target on shares of Tesla in a research report on Wednesday, April 19th. Finally, ValuEngine raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $296.51.
Tesla (TSLA) traded up 4.30% on Monday, hitting $342.52. 8,637,082 shares of the stock traded hands. The firm has a 50-day moving average price of $350.49 and a 200-day moving average price of $297.55. The company’s market capitalization is $56.26 billion. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
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. 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 8.46% and a negative return on equity of 17.13%. Analysts forecast that Tesla will post ($5.95) earnings per share for the current year.
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In other news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the sale, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey B. Straubel sold 106,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. Insiders sold 242,290 shares of company stock worth $74,919,505 in the last 90 days. Corporate insiders own 23.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter valued at approximately $122,000. North Star Investment Management Corp. raised its stake in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in Tesla during the first quarter valued at $101,000. SRS Capital Advisors Inc. raised its stake in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in Tesla during the fourth quarter valued at $102,000. 63.78% of the stock is owned by institutional investors and hedge funds.
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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