Zacks Investment Research cut shares of Tesla (NASDAQ:TSLA) from a hold rating to a sell rating in a report released on Saturday, January 20th.
According to Zacks, “Tesla announced Model 3 production delays twice leading to huge mismatch between actual number of reservation and delivery. Tesla attributed production bottlenecks for this slow production. The company caters to a niche market and has been recording losses over the last few years. Moreover, the company is facing supply chain problems which are restricting its ability to increase production. High research and development costs, low number of chargers, high requirement of capital expenditure and opposition to direct selling in some states are other headwinds.”
Other analysts have also issued reports about the company. Sanford C. Bernstein restated a market perform rating and issued a $265.00 price target on shares of Tesla in a report on Tuesday, October 3rd. Instinet began coverage on Tesla in a research report on Wednesday, October 4th. They issued a buy rating and a $500.00 target price on the stock. Nomura began coverage on Tesla in a research report on Wednesday, October 4th. They issued a buy rating and a $500.00 target price on the stock. Vetr raised Tesla from a strong sell rating to a sell rating and set a $308.16 target price on the stock in a research report on Tuesday, October 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of Tesla in a research report on Thursday, January 4th. Thirteen investment 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. The stock presently has an average rating of Hold and an average target price of $324.20.
Tesla (NASDAQ:TSLA) traded down $1.35 during mid-day trading on Friday, reaching $322.31. The company’s stock had a trading volume of 3,949,815 shares, compared to its average volume of 6,090,000. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $54,170.00, a price-to-earnings ratio of -27.34 and a beta of 0.97. Tesla has a 52-week low of $242.01 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating analysts’ consensus estimates of ($3.12) by $0.08. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.26 billion. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. The company’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.69) earnings per share. sell-side analysts expect that Tesla will post -15.15 earnings per share for the current year.
In related news, VP Eric Branderiz sold 1,229 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $312.61, for a total value of $384,197.69. Following the completion of the sale, the vice president now directly owns 4,808 shares in the company, valued at $1,503,028.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Douglas Field sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $340.67, for a total value of $476,938.00. Following the completion of the sale, the vice president now owns 21,528 shares of the company’s stock, valued at $7,333,943.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,231 shares of company stock valued at $3,292,431. 23.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its stake in Tesla by 12.3% during the second quarter. Prudential Financial Inc. now owns 8,031 shares of the electric vehicle producer’s stock worth $2,904,000 after purchasing an additional 880 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Tesla by 10.9% during the second quarter. Principal Financial Group Inc. now owns 8,775 shares of the electric vehicle producer’s stock worth $3,173,000 after purchasing an additional 861 shares during the last quarter. Schroder Investment Management Group lifted its stake in Tesla by 16.8% during the second quarter. Schroder Investment Management Group now owns 1,237 shares of the electric vehicle producer’s stock worth $446,000 after purchasing an additional 178 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tesla by 3.3% during the second quarter. Franklin Resources Inc. now owns 39,338 shares of the electric vehicle producer’s stock worth $14,225,000 after purchasing an additional 1,275 shares during the last quarter. Finally, AXA lifted its stake in Tesla by 18.7% during the second quarter. AXA now owns 2,488 shares of the electric vehicle producer’s stock worth $900,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.
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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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