Tesla (NASDAQ:TSLA) was downgraded by research analysts at Cann from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Vetr upgraded Tesla from a “hold” rating to a “buy” rating and set a $372.51 target price for the company in a report on Thursday, August 10th. Guggenheim restated a “buy” rating and set a $430.00 target price on shares of Tesla in a report on Thursday, August 10th. Argus upgraded Tesla from a “hold” rating to a “buy” rating and increased their target price for the company from $355.17 to $444.00 in a report on Tuesday, August 8th. Robert W. Baird reiterated a “buy” rating and issued a $411.00 price objective on shares of Tesla in a report on Friday, September 29th. Finally, Nomura initiated coverage on Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price objective for the company. Twelve analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $331.56.

Shares of Tesla (NASDAQ:TSLA) traded down $1.33 during midday trading on Tuesday, reaching $305.20. The company’s stock had a trading volume of 5,835,100 shares, compared to its average volume of 6,396,104. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla has a fifty-two week low of $182.51 and a fifty-two week high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. research analysts forecast that Tesla will post -11.38 EPS for the current fiscal year.

In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of Tesla 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 completion of the sale, the vice president now directly owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Insiders sold 10,188 shares of company stock worth $3,310,563 over the last ninety days. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 4.9% in 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 period. Capital World Investors boosted its holdings in shares of Tesla by 0.6% in the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock valued at $1,090,815,000 after purchasing an additional 17,452 shares during the period. Jennison Associates LLC boosted its holdings in shares of Tesla by 4.3% in the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock valued at $1,085,801,000 after purchasing an additional 124,511 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Tesla by 126.6% in the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after purchasing an additional 305,596 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Tesla by 1.3% during the third quarter. Legal & General Group Plc now owns 545,371 shares of the electric vehicle producer’s stock worth $186,026,000 after buying an additional 7,119 shares during the period. 57.20% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

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