Tesla (NASDAQ:TSLA) Rating Lowered to Hold at Vetr

Vetr downgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 3rd. Vetr currently has $331.71 target price on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the company. Robert W. Baird restated a buy rating and issued a $411.00 target price on shares of Tesla in a research note on Friday, September 29th. Nomura started coverage on Tesla in a research note on Wednesday, October 4th. They issued a buy rating and a $500.00 target price for the company. Instinet started coverage on Tesla in a research note on Wednesday, October 4th. They issued a buy rating and a $500.00 target price for the company. Guggenheim restated a buy rating and issued a $430.00 target price on shares of Tesla in a research note on Friday, October 6th. Finally, Piper Jaffray Companies set a $386.00 target price on Tesla and gave the stock a buy rating in a research note on Monday, October 16th. Eleven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $329.48.

Tesla (NASDAQ TSLA) traded down $1.73 during mid-day trading on Wednesday, hitting $336.22. The stock had a trading volume of 4,830,000 shares, compared to its average volume of 5,810,000. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. The company has a market cap of $56,510.00, a P/E ratio of -39.28 and a beta of 0.94. Tesla has a 12 month low of $229.59 and a 12 month high of $389.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. analysts predict that Tesla will post -11.38 EPS for the current fiscal year.

In other news, VP John Douglas Field sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $340.67, for a total transaction of $476,938.00. Following the transaction, the vice president now directly owns 21,528 shares of the company’s stock, valued at $7,333,943.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric Branderiz sold 1,736 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $339.49, for a total value of $589,354.64. Following the transaction, the vice president now directly owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Insiders sold a total of 15,692 shares of company stock worth $5,026,873 over the last ninety days. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Advisors Asset Management Inc. increased its stake in shares of Tesla by 29.1% during the second quarter. Advisors Asset Management Inc. now owns 985 shares of the electric vehicle producer’s stock valued at $356,000 after buying an additional 222 shares during the period. Prudential Financial Inc. increased its stake in shares of Tesla by 12.3% during the second quarter. Prudential Financial Inc. now owns 8,031 shares of the electric vehicle producer’s stock valued at $2,904,000 after buying an additional 880 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Tesla by 53.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 750 shares of the electric vehicle producer’s stock valued at $272,000 after buying an additional 262 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Tesla by 97.6% during the second quarter. Neuberger Berman Group LLC now owns 11,272 shares of the electric vehicle producer’s stock valued at $4,076,000 after buying an additional 5,567 shares during the period. Finally, Keybank National Association OH increased its stake in shares of Tesla by 4.8% during the second quarter. Keybank National Association OH now owns 2,834 shares of the electric vehicle producer’s stock valued at $1,025,000 after buying an additional 130 shares during the period. 57.12% 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.

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

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