Tesla (TSLA) Downgraded by Vetr

Vetr downgraded shares of Tesla (NASDAQ:TSLA) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday. Vetr currently has $327.47 price objective on the electric vehicle producer’s stock.

Several other brokerages also recently issued reports on TSLA. UBS lifted their price objective on Tesla to $365.00 and gave the company a hold rating in a research report on Thursday, February 8th. BidaskClub upgraded Tesla from a strong sell rating to a sell rating in a research report on Wednesday, January 24th. Goldman Sachs set a $205.00 price objective on Tesla and gave the company a sell rating in a research report on Thursday, February 8th. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the company a neutral rating in a research report on Thursday, February 8th. Finally, KeyCorp reiterated a hold rating and issued a $240.00 price objective on shares of Tesla in a research report on Wednesday, December 27th. Thirteen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $313.57.

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Tesla stock opened at $299.30 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The company has a market cap of $50,557.75, a P/E ratio of -26.07 and a beta of 1.19. Tesla has a one year low of $244.59 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted ($0.69) EPS. The business’s revenue for the quarter was up 43.9% compared to the same quarter last year. equities research analysts forecast that Tesla will post -15.15 EPS for the current fiscal year.

In related news, VP John Douglas Field sold 1,000 shares of Tesla stock in a transaction on Friday, March 16th. The stock was sold at an average price of $321.41, for a total transaction of $321,410.00. Following the completion of the sale, the vice president now directly owns 20,561 shares of the company’s stock, valued at $6,608,511.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Eric Branderiz sold 401 shares of Tesla stock in a transaction on Monday, February 26th. The stock was sold at an average price of $353.50, for a total value of $141,753.50. Following the sale, the vice president now directly owns 1,248 shares of the company’s stock, valued at $441,168. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,654 shares of company stock valued at $1,559,211. 23.10% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Quantitative Investment Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $30,045,000. Laurel Wealth Advisors Inc. grew its stake in shares of Tesla by 40.2% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 1,692 shares of the electric vehicle producer’s stock worth $526,000 after purchasing an additional 485 shares during the period. APG Asset Management N.V. grew its stake in shares of Tesla by 43.4% during the fourth quarter. APG Asset Management N.V. now owns 213,861 shares of the electric vehicle producer’s stock worth $55,451,000 after purchasing an additional 64,712 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Tesla during the third quarter worth $447,000. Finally, Private Capital Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $318,000. 58.19% of the stock is owned by institutional investors and hedge funds.

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Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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