Tesla (TSLA) Raised to “Sell” at BidaskClub
Tesla (NASDAQ:TSLA) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday.
Other equities research analysts have also recently issued research reports about the company. Robert W. Baird reissued a “buy” rating and set a $411.00 target price on shares of Tesla in a report on Friday, September 29th. Nomura began coverage on Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price target on the stock. Instinet began coverage on Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and issued a $430.00 price target on shares of Tesla in a report on Friday, October 6th. Finally, Piper Jaffray Companies set a $386.00 price target on Tesla and gave the company a “buy” rating in a report on Monday, October 16th. Thirteen equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $331.04.
Shares of Tesla (TSLA) traded up $12.12 during trading hours on Tuesday, reaching $341.03. The company had a trading volume of 8,724,888 shares, compared to its average volume of 6,389,271. Tesla has a 1 year low of $193.00 and a 1 year high of $389.61. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total transaction of $723,335.10. Following the transaction, the director now directly owns 154,419 shares in the company, valued at approximately $51,003,051.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the transaction, the vice president now owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,417 shares of company stock worth $3,694,761. Corporate insiders own 23.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of TSLA. Baker Avenue Asset Management grew its holdings in shares of Tesla by 0.9% during the 3rd quarter. Baker Avenue Asset Management now owns 2,335 shares of the electric vehicle producer’s stock valued at $580,000 after acquiring an additional 20 shares in the last quarter. Perigon Wealth Management boosted its holdings in Tesla by 0.4% in the third quarter. Perigon Wealth Management now owns 4,916 shares of the electric vehicle producer’s stock worth $1,221,000 after purchasing an additional 22 shares in the last quarter. KBC Group boosted its holdings in Tesla by 213.5% in the third quarter. KBC Group now owns 21,454 shares of the electric vehicle producer’s stock worth $5,329,000 after purchasing an additional 14,610 shares in the last quarter. J. Goldman & Company bought a new stake in Tesla in the third quarter worth $3,726,000. Finally, KSA Capital Management bought a new stake in Tesla in the third quarter worth $7,452,000. Institutional investors and hedge funds 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.
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