Tesla Inc. (TSLA) Downgraded to “Sell” at Standpoint Research
Tesla Inc. (NASDAQ:TSLA) was downgraded by research analysts at Standpoint Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
TSLA has been the topic of a number of other reports. Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a research note on Tuesday, June 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $305.00 target price on shares of Tesla in a report on Monday, June 12th. Berenberg Bank raised shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $193.00 to $464.00 in a research report on Tuesday, June 13th. Global Equities Research reissued a “buy” rating and set a $385.00 price target on shares of Tesla in a research report on Tuesday, June 13th. Finally, Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target on the stock in a report on Tuesday, June 13th. Ten analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the stock. Tesla has a consensus rating of “Hold” and an average target price of $325.52.
Tesla (NASDAQ:TSLA) traded up 2.1422% during mid-day trading on Wednesday, hitting $355.5978. 4,883,724 shares of the company were exchanged. The company’s 50-day moving average is $354.47 and its 200 day moving average is $333.05. The company’s market capitalization is $59.34 billion. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.06) earnings per share. Analysts expect that Tesla will post ($6.32) EPS for the current year.
In related news, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $355.20, for a total transaction of $777,888.00. Following the transaction, the director now directly owns 158,584 shares in the company, valued at $56,329,036.80. The disclosure for this sale can be found here. Insiders have sold a total of 49,256 shares of company stock valued at $16,756,628 in the last ninety days. 23.10% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Tesla by 117.7% during the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after purchasing an additional 366,400 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Tesla by 2.5% during the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after purchasing an additional 336,130 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after purchasing an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $66,601,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Tesla by 25.9% during the first quarter. TIAA CREF Investment Management LLC now owns 812,857 shares of the electric vehicle producer’s stock valued at $226,218,000 after purchasing an additional 167,348 shares during the last quarter. 56.63% of the stock is owned by hedge funds and other 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.
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.