Tesla (TSLA) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Tesla (NASDAQ:TSLA) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Tesla incurred an adjusted loss of $3.04 per share in fourth-quarter 2017, narrower than the Zacks Consensus Estimate of a loss of $3.19. Revenues increased to $3.29 billion from $2.28 billion registered in fourth-quarter 2016. The figure came in lower than the Zacks Consensus Estimate of $3.30 billion. The company is making serious efforts to address Model 3 production bottlenecks and ramping up energy storage products. The company continues to target weekly Model 3 production rates of 2,500 by the end of first-quarter 2018 and 5,000 by the end of second-quarter 2018. Tesla is also focused on geographical expansions and acquisitions for growth. The company is also rapidly developing a network of superchargers. However, high research and development costs, low number of chargers and high requirement of capital expenditure are some headwinds.”

TSLA has been the subject of a number of other reports. Jefferies Group cut shares of Tesla from an in-line rating to an underperform rating and reduced their price target for the company from $312.00 to $240.00 in a research report on Friday, October 27th. Nomura restated a buy rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, October 31st. ValuEngine upgraded shares of Tesla from a sell rating to a hold rating in a research note on Sunday, December 31st. Vetr lowered shares of Tesla from a buy rating to a hold rating and set a $331.97 price objective on the stock. in a research note on Tuesday, January 9th. Finally, Morgan Stanley set a $379.00 price objective on shares of Tesla and gave the company a neutral rating in a research note on Thursday, February 8th. Thirteen research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Tesla presently has a consensus rating of Hold and a consensus target price of $324.20.

Shares of Tesla (NASDAQ:TSLA) opened at $323.66 on Tuesday. Tesla has a 1 year low of $242.01 and a 1 year high of $389.61. The firm has a market cap of $54,400.00, a price-to-earnings ratio of -27.45 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

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 analysts’ consensus estimates of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 32.11%. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company earned ($0.69) earnings per share. Tesla’s quarterly revenue was up 43.9% compared to the same quarter last year. equities analysts predict that Tesla will post -6.87 EPS for the current year.

In other news, VP Eric Branderiz sold 1,736 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $313.25, for a total transaction of $543,802.00. Following the transaction, the vice president now directly owns 1,225 shares in the company, valued at $383,731.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 4,065 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 154,589 shares in the company, valued at $48,244,135.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,231 shares of company stock worth $3,292,431. Company insiders own 23.10% of the company’s stock.

Several institutional investors have recently modified their holdings of TSLA. Ark Investment Management LLC increased its stake in shares of Tesla by 67.0% during the second quarter. Ark Investment Management LLC now owns 37,836 shares of the electric vehicle producer’s stock worth $13,682,000 after acquiring an additional 15,186 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tesla by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 100,312 shares of the electric vehicle producer’s stock worth $36,274,000 after buying an additional 1,522 shares in the last quarter. QS Investors LLC boosted its holdings in Tesla by 46.4% during the second quarter. QS Investors LLC now owns 625 shares of the electric vehicle producer’s stock worth $226,000 after buying an additional 198 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Tesla by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 6,203 shares of the electric vehicle producer’s stock worth $2,244,000 after buying an additional 388 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Tesla during the second quarter worth about $796,000. Institutional investors and hedge funds own 57.49% of the company’s stock.

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About Tesla

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.

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