Tesla (TSLA) Stock Rating Lowered by BidaskClub

Tesla (NASDAQ:TSLA) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

TSLA has been the subject of a number of other reports. UBS set a $195.00 price target on Tesla and gave the company a “sell” rating in a report on Friday, February 9th. Morgan Stanley set a $376.00 price target on Tesla and gave the company a “hold” rating in a report on Friday, April 27th. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 price target for the company. in a report on Thursday, April 5th. ValuEngine downgraded Tesla from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Tesla in a report on Monday, March 19th. Thirteen analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $301.70.

Shares of Tesla opened at $276.82 on Thursday, Marketbeat Ratings reports. Tesla has a 12-month low of $244.59 and a 12-month high of $389.61. The company has a quick ratio of 0.44, a current ratio of 0.74 and a debt-to-equity ratio of 1.65.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.95). Tesla had a negative net margin of 18.77% and a negative return on equity of 40.72%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm posted ($1.33) earnings per share. The company’s revenue was up 26.4% compared to the same quarter last year. sell-side analysts anticipate that Tesla will post -10.94 EPS for the current fiscal year.

In other news, CEO Elon Musk acquired 33,000 shares of Tesla stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average cost of $298.50 per share, with a total value of $9,850,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric Branderiz sold 452 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $325.44, for a total value of $147,098.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,728 shares of company stock valued at $1,172,762. 22.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in Tesla by 20.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock valued at $279,000 after buying an additional 155 shares in the last quarter. Catawba Capital Management VA grew its holdings in Tesla by 6.0% in the 4th quarter. Catawba Capital Management VA now owns 2,935 shares of the electric vehicle producer’s stock valued at $914,000 after buying an additional 165 shares in the last quarter. Essex Financial Services Inc. grew its holdings in Tesla by 4.9% in the 4th quarter. Essex Financial Services Inc. now owns 3,549 shares of the electric vehicle producer’s stock valued at $1,105,000 after buying an additional 165 shares in the last quarter. Global Financial Private Capital LLC grew its holdings in Tesla by 4.5% in the 1st quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock valued at $1,052,000 after buying an additional 171 shares in the last quarter. Finally, Hartland & Co. LLC grew its holdings in Tesla by 11.2% in the 4th quarter. Hartland & Co. LLC now owns 1,712 shares of the electric vehicle producer’s stock valued at $533,000 after buying an additional 173 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

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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