Research analysts at Jefferies Group LLC assumed coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set an “underperform” rating and a $280.00 price target on the electric vehicle producer’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 25.35% from the stock’s current price. The analysts noted that the move was a valuation call.

Several other brokerages also recently issued reports on TSLA. Vetr downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price objective for the company. in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price objective (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Royal Bank of Canada lifted their price target on shares of Tesla from $314.00 to $345.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Guggenheim reaffirmed a “buy” rating and set a $430.00 price target on shares of Tesla in a research note on Thursday, August 10th. Finally, Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “neutral” rating in a research note on Thursday, July 27th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $314.09.

Tesla (NASDAQ:TSLA) traded down 2.57% on Tuesday, reaching $375.10. The company’s stock had a trading volume of 6,451,886 shares. Tesla has a one year low of $178.19 and a one year high of $389.61. The firm has a 50-day moving average of $354.97 and a 200-day moving average of $325.99. The company’s market capitalization is $62.60 billion.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.06) earnings per share. Analysts predict that Tesla will post ($6.26) EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Tesla Inc. (TSLA) Receives New Coverage from Analysts at Jefferies Group LLC” was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/19/tesla-inc-tsla-receives-new-coverage-from-analysts-at-jefferies-group-llc.html.

In related news, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric Branderiz sold 99 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. In the last three months, insiders sold 53,946 shares of company stock valued at $18,481,047. Corporate insiders own 23.10% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC boosted its position in shares of Tesla by 0.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock worth $309,000 after purchasing an additional 4 shares during the period. North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of Tesla by 2.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after purchasing an additional 9 shares during the period. Sterling Investment Advisors Ltd. boosted its position in shares of Tesla by 2.2% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock worth $308,000 after purchasing an additional 18 shares during the period. Finally, Gemmer Asset Management LLC boosted its position in shares of Tesla by 2.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock worth $282,000 after purchasing an additional 20 shares during the period. 56.63% of the stock is owned by hedge funds and other institutional investors.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc. and related companies with MarketBeat.com's FREE daily email newsletter.