Tesla’s (TSLA) Sell Rating Reaffirmed at Nord/LB

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by analysts at Nord/LB in a report released on Tuesday. They currently have a $230.00 target price on the electric vehicle producer’s stock. Nord/LB’s target price would indicate a potential downside of 19.83% from the company’s current price.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Tesla from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Sanford C. Bernstein restated a “neutral” rating and issued a $325.00 target price on shares of Tesla in a research note on Monday. Canaccord Genuity set a $316.00 target price on Tesla and gave the company a “hold” rating in a research note on Tuesday, August 28th. Royal Bank of Canada restated a “neutral” rating and issued a $315.00 target price on shares of Tesla in a research note on Wednesday, August 8th. Finally, Evercore ISI set a $301.00 target price on Tesla and gave the company a “hold” rating in a research note on Wednesday, August 8th. Thirteen analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $312.71.

Shares of NASDAQ:TSLA traded up $7.46 during midday trading on Tuesday, reaching $286.90. The company’s stock had a trading volume of 78,946 shares, compared to its average volume of 8,395,878. Tesla has a fifty-two week low of $244.59 and a fifty-two week high of $389.61. The firm has a market cap of $44.91 billion, a PE ratio of -24.78 and a beta of 0.87. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.61) by $0.55. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company posted ($1.33) earnings per share. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. analysts anticipate that Tesla will post -10.77 EPS for the current fiscal year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $358.26, for a total transaction of $671,737.50. Following the transaction, the director now owns 150,208 shares in the company, valued at $53,813,518.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP John Douglas Field sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $359.27, for a total value of $1,077,810.00. Following the transaction, the vice president now owns 20,964 shares in the company, valued at approximately $7,531,736.28. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Comerica Bank boosted its holdings in Tesla by 5.7% during the first quarter. Comerica Bank now owns 6,282 shares of the electric vehicle producer’s stock worth $1,885,000 after buying an additional 341 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Tesla by 3.0% during the first quarter. Prudential Financial Inc. now owns 8,341 shares of the electric vehicle producer’s stock worth $2,220,000 after buying an additional 240 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Tesla by 30.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 3,672 shares of the electric vehicle producer’s stock worth $977,000 after buying an additional 853 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Tesla by 4.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 260,957 shares of the electric vehicle producer’s stock worth $69,449,000 after buying an additional 11,736 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its holdings in Tesla by 44.1% during the first quarter. ETRADE Capital Management LLC now owns 1,461 shares of the electric vehicle producer’s stock worth $389,000 after buying an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 56.26% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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