Tesla (TSLA) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Tesla (NASDAQ:TSLA) from a strong sell rating to a sell rating in a research report sent to investors on Friday.

Several other equities analysts have also recently issued reports on TSLA. Vetr cut Tesla from a sell rating to a strong sell rating and set a $283.06 target price on the stock. in a research report on Monday, December 11th. Tigress Financial restated a hold rating on shares of Tesla in a report on Thursday, December 21st. KeyCorp restated a hold rating and issued a $240.00 price target on shares of Tesla in a report on Wednesday, December 27th. ValuEngine upgraded Tesla from a sell rating to a hold rating in a report on Sunday, December 31st. Finally, Bank of America set a $155.00 price target on Tesla and gave the stock a sell rating in a report on Wednesday, January 3rd. Thirteen equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Tesla currently has an average rating of Hold and a consensus target price of $313.57.

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NASDAQ TSLA opened at $289.66 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.56 and a current ratio of 0.86. Tesla has a 12-month low of $244.59 and a 12-month high of $389.61. The company has a market cap of $50,557.73, a price-to-earnings ratio of -25.23 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the firm posted ($0.69) EPS. The firm’s quarterly revenue was up 43.9% on a year-over-year basis. equities research analysts forecast that Tesla will post -15.15 EPS for the current year.

In other Tesla news, VP Eric Branderiz sold 801 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total transaction of $284,018.58. Following the transaction, the vice president now owns 1,287 shares of the company’s stock, valued at approximately $456,344.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 1,875 shares of the stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $300.00, for a total value of $562,500.00. Following the transaction, the director now directly owns 150,208 shares in the company, valued at approximately $45,062,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,529 shares of company stock worth $1,786,841. Corporate insiders own 23.10% of the company’s stock.

Several institutional investors have recently modified their holdings of TSLA. Jennison Associates LLC lifted its stake in shares of Tesla by 17.1% during the 4th quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock worth $1,053,158,000 after purchasing an additional 494,761 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Tesla by 126.6% during the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after purchasing an additional 305,596 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Tesla by 77.1% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock worth $197,922,000 after purchasing an additional 276,781 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Tesla during the 4th quarter worth $30,045,000. Finally, ARK Investment Management LLC lifted its stake in shares of Tesla by 122.1% during the 4th quarter. ARK Investment Management LLC now owns 140,900 shares of the electric vehicle producer’s stock worth $43,869,000 after purchasing an additional 77,471 shares during the period. 58.19% of the stock is currently owned by institutional investors.

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About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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