Tesla Inc. (TSLA) Rating Reiterated by UBS AG
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by investment analysts at UBS AG in a report released on Wednesday, www.flashratings.com reports. They currently have a $185.00 price target on the electric vehicle producer’s stock. UBS AG’s price target would indicate a potential downside of 45.52% from the stock’s current price.
A number of other equities analysts have also commented on TSLA. Citigroup Inc. began coverage on Tesla in a research note on Thursday, July 20th. They issued a “neutral” rating and a $357.00 price objective on the stock. Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a research note on Thursday, March 30th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $371.27 price objective on the stock. in a research note on Monday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $250.00 price objective on shares of Tesla in a research note on Monday, April 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $305.00 price objective on shares of Tesla in a research note on Monday, June 12th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $301.01.
Shares of Tesla (TSLA) traded up 1.18% on Wednesday, reaching $343.62. The company had a trading volume of 3,735,353 shares. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The firm’s market capitalization is $56.44 billion. The company has a 50-day moving average price of $350.49 and a 200-day moving average price of $297.55.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. Equities research analysts forecast that Tesla will post ($5.95) EPS for the current fiscal year.
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In related news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. The sale was disclosed in a document filed 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 dated Tuesday, May 9th. The shares were 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 90 days, insiders have sold 242,290 shares of company stock valued at $74,919,505. Company insiders own 23.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. increased its stake in shares of 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 during the period. Cornerstone Advisors Inc. increased its stake in shares of Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 9 shares during the period. Clarius Group LLC increased its stake in shares of Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 16 shares during the period. Gemmer Asset Management LLC increased its stake in shares of Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after buying an additional 20 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 63.78% 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.
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