Tesla Inc. (NASDAQ:TSLA) Upgraded to Strong-Buy by Vetr Inc.
Tesla Inc. (NASDAQ:TSLA) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $374.78 price objective on the electric vehicle producer’s stock. Vetr‘s price objective suggests a potential upside of 12.06% from the company’s current price.
Several other analysts also recently commented on TSLA. UBS AG reissued a “sell” rating and set a $160.00 price objective on shares of Tesla in a research report on Wednesday, May 3rd. Citigroup Inc. began coverage on shares of Tesla in a research report on Thursday, July 20th. They set a “neutral” rating and a $357.00 price objective on the stock. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “neutral” rating in a report on Thursday. Pacific Crest reaffirmed an “equal weight” rating on shares of Tesla in a report on Thursday, March 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $305.00 price target on shares of Tesla in a report on Monday, June 12th. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Tesla presently has an average rating of “Hold” and a consensus target price of $301.70.
Tesla (NASDAQ TSLA) traded down 2.73% on Thursday, reaching $334.46. 8,302,405 shares of the company traded hands. The company’s market capitalization is $54.94 billion. The stock’s 50 day moving average price is $349.29 and its 200 day moving average price is $298.95. Tesla has a one year low of $178.19 and a one year 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. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. On average, equities research analysts predict that Tesla will post ($5.99) EPS for the current fiscal year.
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In other Tesla news, insider Jeffrey B. Straubel sold 109,100 shares of Tesla stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total transaction of $33,582,071.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 20,000 shares of Tesla stock in a transaction on Monday, May 8th. The stock was sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $6,235,200. 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. 23.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Crestwood Advisors Group LLC purchased a new position in Tesla during the first quarter valued at approximately $101,000. SRS Capital Advisors Inc. raised its position 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 during the last quarter. Winfield Associates Inc. raised its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tesla during the first quarter valued at approximately $122,000. Finally, Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter valued at approximately $122,000. 63.78% of the stock is owned by institutional investors.
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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