Tesla Inc. (NASDAQ:TSLA) was upgraded by equities research analysts at Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday. The firm currently has a $282.88 price objective on the electric vehicle producer’s stock. Vetr‘s target price would indicate a potential downside of 5.47% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Citigroup Inc. reaffirmed a “hold” rating and issued a $371.00 target price on shares of Tesla in a report on Thursday. Deutsche Bank AG cut their target price on shares of Tesla from $320.00 to $310.00 and set a “hold” rating on the stock in a report on Thursday. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $185.00 target price on shares of Tesla in a report on Thursday. Royal Bank Of Canada cut their target price on shares of Tesla from $345.00 to $340.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Nomura reaffirmed a “buy” rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Tesla currently has a consensus rating of “Hold” and an average target price of $331.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis.

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In related news, VP Eric Branderiz sold 99 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total transaction of $748,301.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,992 shares of company stock valued at $17,390,505. Corporate insiders own 23.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its position in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. Winfield Associates Inc. increased its position in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in Tesla during the 2nd quarter worth approximately $122,000. North Star Investment Management Corp. increased its position in 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 in the last quarter. Finally, Carroll Financial Associates Inc. increased its position in Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares in the last quarter. 56.45% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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