Tesla (NASDAQ:TSLA) was downgraded by equities researchers at Cascend Securities from a “hold” rating to a “sell” rating in a research note issued on Tuesday. They presently have a $250.00 price target on the electric vehicle producer’s stock. Cascend Securities’ target price would indicate a potential downside of 18.09% from the company’s current price.

TSLA has been the subject of several other reports. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 price objective for the company in a report on Friday, October 13th. Morgan Stanley reaffirmed a “hold” rating and issued a $317.00 price objective on shares of Tesla in a report on Thursday, September 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $265.00 price objective on shares of Tesla in a report on Tuesday, October 3rd. Jefferies Group cut Tesla from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $312.00 to $240.00 in a report on Friday, October 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tesla in a report on Friday, November 10th. Eleven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $331.56.

Shares of Tesla (NASDAQ TSLA) opened at $305.20 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. Tesla has a fifty-two week low of $182.51 and a fifty-two week high of $389.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. analysts predict that Tesla will post -11.38 earnings per share for the current fiscal year.

In other Tesla news, VP Eric Branderiz sold 1,736 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the sale, the vice president now owns 1,736 shares in the company, valued at approximately $589,354.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Douglas Field sold 600 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total value of $180,960.00. Following the completion of the sale, the vice president now owns 21,424 shares in the company, valued at approximately $6,461,478.40. The disclosure for this sale can be found here. Insiders have sold a total of 10,188 shares of company stock worth $3,310,563 in the last 90 days. 23.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Tesla by 10.9% during the 1st quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares during the period. Baillie Gifford & Co. raised its stake in Tesla by 2.5% during the 1st quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the period. Vanguard Group Inc. raised its stake in Tesla by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after buying an additional 292,602 shares during the period. Finally, Capital World Investors raised its stake in Tesla by 17.9% during the 4th quarter. Capital World Investors now owns 3,619,588 shares of the electric vehicle producer’s stock worth $868,737,000 after buying an additional 548,987 shares during the period. Hedge funds and other institutional investors own 57.20% of the company’s stock.

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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)

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