Tesla (NASDAQ:TSLA) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 9th. They currently have a $331.97 price target on the electric vehicle producer’s stock. Vetr‘s price target points to a potential downside of 6.33% from the stock’s current price.
Several other brokerages have also recently issued reports on TSLA. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Cascend Securities cut shares of Tesla from a “hold” rating to a “sell” rating and set a $250.00 price objective on the stock. in a research note on Tuesday, December 5th. Evercore ISI lowered their price objective on shares of Tesla from $330.00 to $312.00 and set an “outperform” rating on the stock in a research note on Sunday, October 29th. Citigroup reaffirmed a “hold” rating and issued a $367.00 price objective on shares of Tesla in a research note on Wednesday, November 15th. Finally, KeyCorp reaffirmed a “hold” rating and issued a $240.00 price objective on shares of Tesla in a research note on Wednesday, December 27th. Twelve investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $329.63.
Tesla (TSLA) traded up $8.60 during trading on Tuesday, reaching $354.42. 6,206,190 shares of the company’s stock traded hands, compared to its average volume of 5,630,000. The firm has a market cap of $59,570.00, a PE ratio of -41.40 and a beta of 0.94. 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 has a 52-week low of $242.01 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. Tesla’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. equities research analysts anticipate that Tesla will post -11.38 earnings per share for the current year.
In related news, VP Eric Branderiz sold 801 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total transaction of $284,018.58. Following the completion of the sale, the vice president now directly owns 1,287 shares in the company, valued at $456,344.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Douglas Field sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total transaction of $180,960.00. Following the sale, the vice president now owns 21,424 shares of the company’s stock, valued at $6,461,478.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,567 shares of company stock worth $3,998,202. 23.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Malaga Cove Capital LLC lifted its stake in Tesla by 112.0% in the fourth quarter. Malaga Cove Capital LLC now owns 1,993 shares of the electric vehicle producer’s stock valued at $621,000 after acquiring an additional 1,053 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tesla by 3.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,975 shares of the electric vehicle producer’s stock valued at $9,643,000 after acquiring an additional 1,150 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Tesla by 9.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,101 shares of the electric vehicle producer’s stock valued at $1,588,000 after acquiring an additional 460 shares during the last quarter. IFC Holdings Incorporated FL lifted its stake in Tesla by 17.7% in the fourth quarter. IFC Holdings Incorporated FL now owns 1,375 shares of the electric vehicle producer’s stock valued at $427,000 after acquiring an additional 207 shares during the last quarter. Finally, Lee Financial Group Hawaii Inc. acquired a new stake in Tesla in the fourth quarter valued at approximately $3,003,000. Hedge funds and other institutional investors own 57.19% of the company’s stock.
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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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