Tesla (NASDAQ:TSLA) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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

Shares of Tesla (NASDAQ TSLA) traded up $9.56 during trading hours on Wednesday, reaching $313.26. The company’s stock had a trading volume of 7,186,451 shares, compared to its average volume of 6,392,021. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. Tesla has a 12-month low of $185.00 and a 12-month high of $389.61.

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

In other Tesla news, VP John Douglas Field sold 600 shares of Tesla stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total transaction of $180,960.00. Following the sale, the vice president now directly owns 21,424 shares in the company, valued at approximately $6,461,478.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $313.25, for a total value of $543,802.00. Following the sale, the vice president now owns 1,225 shares in the company, valued at $383,731.25. 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 over the last three months. 23.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC increased its holdings in 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 last quarter. Sterling Investment Advisors Ltd. increased its holdings in 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 last quarter. Hanson McClain Inc. increased its holdings in Tesla by 2.1% during the 2nd quarter. Hanson McClain Inc. now owns 976 shares of the electric vehicle producer’s stock worth $353,000 after purchasing an additional 20 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in Tesla by 1.7% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,178 shares of the electric vehicle producer’s stock worth $426,000 after purchasing an additional 20 shares during the last quarter. Finally, Essex Financial Services Inc. increased its holdings in Tesla by 2.4% during the 2nd quarter. Essex Financial Services Inc. now owns 1,159 shares of the electric vehicle producer’s stock worth $419,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 57.20% of the company’s stock.

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Tesla Company Profile

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 ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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