Roth Capital Reiterates Buy Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “buy” rating restated by analysts at Roth Capital in a research report issued on Thursday,Benzinga reports. They presently have a $505.00 price target on the electric vehicle producer’s stock. Roth Capital’s price target points to a potential upside of 61.33% from the company’s previous close.

TSLA has been the subject of a number of other research reports. Jefferies Financial Group set a $400.00 target price on Tesla and gave the stock a “hold” rating in a report on Monday, July 13th. Citigroup started coverage on shares of Tesla in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Canaccord Genuity Group set a $410.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday. TD Cowen restated a “buy” rating and set a $460.00 target price (down from $490.00) on shares of Tesla in a research report on Thursday. Finally, Royal Bank Of Canada increased their price target on Tesla from $475.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Twenty-one research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $404.95.

Check Out Our Latest Report on TSLA

Tesla Trading Down 2.1%

NASDAQ TSLA opened at $313.03 on Thursday. Tesla has a 12-month low of $297.82 and a 12-month high of $498.83. The company has a fifty day simple moving average of $400.74 and a two-hundred day simple moving average of $402.53. The company has a current ratio of 1.94, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.18 trillion, a P/E ratio of 289.85, a P/E/G ratio of 10.73 and a beta of 1.80.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The firm had revenue of $28.24 billion during the quarter, compared to analysts’ expectations of $26.42 billion. During the same quarter last year, the business earned $0.33 EPS. The business’s revenue was up 25.5% on a year-over-year basis. On average, analysts forecast that Tesla will post 1.34 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 32,015 shares of company stock valued at $12,383,640 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently modified their holdings of the stock. MADDEN SECURITIES Corp increased its holdings in shares of Tesla by 3.7% in the second quarter. MADDEN SECURITIES Corp now owns 15,585 shares of the electric vehicle producer’s stock valued at $6,555,000 after purchasing an additional 553 shares during the last quarter. Narwhal Capital Management increased its stake in shares of Tesla by 21.4% in the 2nd quarter. Narwhal Capital Management now owns 7,913 shares of the electric vehicle producer’s stock worth $3,328,000 after acquiring an additional 1,394 shares during the last quarter. Nelson Capital Management LLC increased its stake in shares of Tesla by 77.5% in the 2nd quarter. Nelson Capital Management LLC now owns 1,145 shares of the electric vehicle producer’s stock worth $482,000 after acquiring an additional 500 shares during the last quarter. EdgeRock Capital LLC raised its holdings in shares of Tesla by 4.6% during the 2nd quarter. EdgeRock Capital LLC now owns 4,731 shares of the electric vehicle producer’s stock worth $1,990,000 after acquiring an additional 209 shares during the period. Finally, Perryman Financial Advisory Inc. AD boosted its position in shares of Tesla by 109.6% during the 2nd quarter. Perryman Financial Advisory Inc. AD now owns 3,984 shares of the electric vehicle producer’s stock valued at $1,676,000 after acquiring an additional 2,083 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Key Tesla News

Here are the key news stories impacting Tesla this week:

About Tesla

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Read More

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.