Tesla (TSLA) Earns “Sell” Rating from Cowen

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by Cowen in a note issued to investors on Friday.

TSLA has been the topic of several other reports. Zacks Investment Research cut Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 price objective on the stock in a research note on Friday, October 13th. Barclays reiterated a “sell” rating on shares of Tesla in a report on Sunday, October 15th. Oppenheimer restated a “hold” rating on shares of Tesla in a report on Monday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $430.00 target price on shares of Tesla in a research report on Friday, October 6th. Eleven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $329.48.

Tesla (NASDAQ:TSLA) traded down $2.59 during mid-day trading on Friday, hitting $344.57. 5,684,900 shares of the company traded hands, compared to its average volume of 6,288,333. The company has a market capitalization of $58,810.00, a PE ratio of -40.25 and a beta of 0.94. 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 one year low of $240.75 and a one year high of $389.61.

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, beating 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 during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. equities analysts anticipate 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 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 completion of the transaction, the vice president now owns 1,736 shares of the company’s stock, valued at $589,354.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $334.87, for a total value of $334,870.00. Following the transaction, the vice president now directly owns 20,128 shares of the company’s stock, valued at approximately $6,740,263.36. The disclosure for this sale can be found here. Insiders have sold 15,692 shares of company stock worth $5,026,873 in the last quarter. 23.10% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in Tesla by 14.5% during the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after acquiring an additional 62 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Tesla by 92.9% during the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 237 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of Tesla during the third quarter worth $100,000. Crestwood Advisors Group LLC purchased a new position in shares of Tesla during the first quarter worth $101,000. Finally, Independent Advisor Alliance purchased a new position in shares of Tesla during the fourth quarter worth $102,000. 57.13% of the stock is 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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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