Tesla’s (TSLA) “Underweight” Rating Reaffirmed at Barclays

Tesla (NASDAQ:TSLA)‘s stock had its “underweight” rating restated by equities research analysts at Barclays in a research note issued to investors on Thursday, The Fly reports. They presently have a $1.00 price objective on the electric vehicle producer’s stock. Barclays’ price objective would indicate a potential downside of 99.68% from the company’s current price.

A number of other brokerages have also weighed in on TSLA. Vetr lowered shares of Tesla from a “buy” rating to a “hold” rating and set a $331.97 price target on the stock. in a report on Tuesday, January 9th. BidaskClub upgraded shares of Tesla from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Cascend Securities lowered shares of Tesla from a “hold” rating to a “sell” rating and set a $250.00 price target on the stock. in a report on Tuesday, December 5th. Evercore ISI decreased their price target on shares of Tesla from $330.00 to $312.00 and set an “outperform” rating on the stock in a report on Sunday, October 29th. Finally, Citigroup reiterated a “hold” rating and issued a $367.00 price target on shares of Tesla in a report on Wednesday, November 15th. Twelve analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $322.45.

Shares of Tesla (TSLA) traded down $4.81 on Thursday, hitting $310.42. 12,795,099 shares of the company’s stock were exchanged, compared to its average volume of 6,000,000. The firm has a market cap of $52,170.00, a price-to-earnings ratio of -26.33 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 announced its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.12) by $0.08. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.26 billion. Tesla had a negative net margin of 16.68% and a negative return on equity of 32.11%. Tesla’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.69) EPS. equities research analysts anticipate that Tesla will post -6.87 EPS for the current year.

In related news, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction on Monday, November 27th. The shares were sold at an average price of $313.25, for a total transaction of $543,802.00. Following the sale, the vice president now owns 1,225 shares of the company’s stock, valued at approximately $383,731.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 4,065 shares of Tesla stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the sale, the director now directly owns 154,589 shares in the company, valued at approximately $48,244,135.12. The disclosure for this sale can be found here. Insiders have sold a total of 10,231 shares of company stock worth $3,292,431 in the last ninety days. 23.10% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in Tesla by 17.1% during the 4th quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock worth $1,053,158,000 after buying an additional 494,761 shares during the period. American Century Companies Inc. increased its position in shares of Tesla by 8.9% in the 4th quarter. American Century Companies Inc. now owns 655,149 shares of the electric vehicle producer’s stock worth $203,981,000 after purchasing an additional 53,279 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Tesla by 77.1% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock worth $197,922,000 after purchasing an additional 276,781 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Tesla by 126.6% in the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after purchasing an additional 305,596 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Tesla by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 545,371 shares of the electric vehicle producer’s stock worth $186,026,000 after purchasing an additional 7,119 shares during the last quarter. 57.35% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

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