Zacks Investment Research upgraded shares of Tesla (NASDAQ:TSLA) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Tesla published its production figures for first-quarter 2018, which totaled 34,494 vehicles, up 40% sequentially. This happens to be the most productive quarter in the history of Tesla. The Model 3 output increased significantly on a sequential basis. However, the company missed its target of producing 2,500 Model 3s a week by the end of first-quarter 2018. Actually, it produced 2020 Model 3 cars over the last seven days. Despite the production target miss, the first-quarter 2018 performance of Tesla looks encouraging.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. Also, the issue of recall is hurting the company badly.”
A number of other equities analysts also recently issued reports on TSLA. Vetr upgraded Tesla from a strong sell rating to a sell rating and set a $293.06 price target on the stock in a research note on Wednesday, December 20th. Tigress Financial restated a hold rating on shares of Tesla in a research note on Thursday, December 21st. KeyCorp restated a hold rating and issued a $240.00 price target on shares of Tesla in a research note on Wednesday, December 27th. BidaskClub downgraded Tesla from a sell rating to a strong sell rating in a research note on Friday, December 29th. Finally, ValuEngine upgraded Tesla from a sell rating to a hold rating in a research note on Sunday, December 31st. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $304.44.
Shares of TSLA opened at $300.34 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.80. Tesla has a 12 month low of $244.59 and a 12 month high of $389.61. The firm has a market cap of $49,675.96, a price-to-earnings ratio of -26.16 and a beta of 1.19.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating the 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 business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business posted ($0.69) EPS. The company’s revenue was up 43.9% compared to the same quarter last year. equities research analysts expect that Tesla will post -15.15 earnings per share for the current year.
In other Tesla news, VP Eric Branderiz sold 801 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total transaction of $284,018.58. Following the sale, the vice president now directly owns 1,287 shares of the company’s stock, valued at $456,344.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $300.00, for a total value of $562,500.00. Following the sale, the director now directly owns 150,208 shares in the company, valued at $45,062,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,529 shares of company stock worth $1,786,841. Insiders own 23.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its holdings in Tesla by 20.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock valued at $279,000 after acquiring an additional 155 shares during the period. Catawba Capital Management VA raised its holdings in Tesla by 6.0% during the fourth quarter. Catawba Capital Management VA now owns 2,935 shares of the electric vehicle producer’s stock valued at $914,000 after acquiring an additional 165 shares during the period. Essex Financial Services Inc. raised its holdings in Tesla by 4.9% during the fourth quarter. Essex Financial Services Inc. now owns 3,549 shares of the electric vehicle producer’s stock valued at $1,105,000 after acquiring an additional 165 shares during the period. Hartland & Co. LLC raised its holdings in Tesla by 11.2% during the fourth quarter. Hartland & Co. LLC now owns 1,712 shares of the electric vehicle producer’s stock valued at $533,000 after acquiring an additional 173 shares during the period. Finally, Vantage Investment Advisors LLC raised its holdings in Tesla by 8.8% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,170 shares of the electric vehicle producer’s stock valued at $676,000 after acquiring an additional 175 shares during the period. 58.19% of the stock is currently 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.
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