Tesla (TSLA) Raised to Hold at ValuEngine

Tesla (NASDAQ:TSLA) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.

TSLA has been the subject of a number of other reports. Berenberg Bank set a $470.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday. Barclays reaffirmed an “underweight” rating and set a $1.00 price target on shares of Tesla in a report on Thursday. Dougherty & Co lifted their price target on Tesla from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Piper Jaffray Companies set a $385.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday. Finally, Vetr raised Tesla from a “sell” rating to a “hold” rating and set a $336.07 price target for the company in a report on Monday. Eleven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Tesla has an average rating of “Hold” and an average price target of $328.40.

Tesla (TSLA) traded down $29.77 during trading hours on Thursday, reaching $315.23. The company had a trading volume of 10,290,883 shares, compared to its average volume of 5,530,000. The stock has a market capitalization of $52,980.00, a price-to-earnings ratio of -36.83 and a beta of 0.97. Tesla has a 52-week low of $242.01 and a 52-week high of $389.61. 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 (NASDAQ:TSLA) last released its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.12) by $0.08. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.26 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. Tesla’s revenue was up 43.9% compared to the same quarter last year. During the same period last year, the business posted ($0.69) earnings per share. equities analysts anticipate that Tesla will post -11.38 earnings per share for the current fiscal year.

In other news, VP John Douglas Field sold 1,000 shares of Tesla stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total transaction of $334,870.00. Following the sale, the vice president now owns 20,128 shares in the company, valued at $6,740,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Branderiz sold 801 shares of Tesla stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the sale, the vice president now owns 1,287 shares in the company, valued at approximately $456,344.46. The disclosure for this sale can be found here. Insiders have sold 11,967 shares of company stock worth $3,817,242 in the last quarter. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. FMR LLC increased its position in Tesla by 13.3% in the 4th quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock valued at $4,711,950,000 after acquiring an additional 2,582,730 shares during the period. Baillie Gifford & Co. increased its position in Tesla by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 10,714,449 shares of the electric vehicle producer’s stock worth $2,571,575,000 after purchasing an additional 1,202,500 shares during the period. Norges Bank acquired a new position in Tesla during the 4th quarter worth approximately $177,839,000. Vanguard Group Inc. increased its position in Tesla by 13.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after purchasing an additional 578,459 shares during the period. Finally, Capital World Investors increased its position 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 purchasing an additional 548,987 shares during the period. Institutional investors and hedge funds own 57.35% 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.

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

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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