Oppenheimer reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Thursday.
Several other research firms have also recently issued reports on TSLA. Zacks Investment Research upgraded Tesla from a sell rating to a hold rating in a report on Thursday, April 12th. KeyCorp restated a hold rating on shares of Tesla in a report on Wednesday, April 18th. BidaskClub upgraded Tesla from a sell rating to a hold rating in a report on Thursday, May 31st. Robert W. Baird restated a top pick rating and set a $309.09 target price (down previously from $411.00) on shares of Tesla in a report on Wednesday, June 6th. Finally, Vetr upgraded Tesla from a buy rating to a strong-buy rating and set a $354.98 target price on the stock in a report on Monday, March 19th. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. Tesla currently has an average rating of Hold and a consensus target price of $299.36.
Tesla stock opened at $333.63 on Thursday. The stock has a market capitalization of $59.01 billion, a P/E ratio of -29.06 and a beta of 0.88. Tesla has a 12-month low of $244.59 and a 12-month high of $389.61. The company has a current ratio of 0.74, a quick ratio of 0.44 and a debt-to-equity ratio of 1.65.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.95). The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.30 billion. Tesla had a negative net margin of 18.77% and a negative return on equity of 40.72%. Tesla’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.33) EPS. equities analysts predict that Tesla will post -10.94 earnings per share for the current fiscal year.
In related news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction that occurred 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 sale, the director now owns 150,208 shares of the company’s stock, valued at approximately $45,062,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John Douglas Field sold 3,000 shares of Tesla stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $359.27, for a total value of $1,077,810.00. Following the completion of the sale, the vice president now directly owns 20,964 shares in the company, valued at approximately $7,531,736.28. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TSLA. The Manufacturers Life Insurance Company raised its position in Tesla by 169.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 16,917 shares of the electric vehicle producer’s stock valued at $5,267,000 after buying an additional 10,648 shares during the last quarter. Toronto Dominion Bank raised its position in Tesla by 41.7% in the 4th quarter. Toronto Dominion Bank now owns 7,868 shares of the electric vehicle producer’s stock valued at $2,449,000 after buying an additional 2,317 shares during the last quarter. Mariner Wealth Advisors LLC raised its position in Tesla by 117.0% in the 4th quarter. Mariner Wealth Advisors LLC now owns 2,624 shares of the electric vehicle producer’s stock valued at $817,000 after buying an additional 1,415 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Tesla in the 4th quarter valued at approximately $212,000. Finally, Synovus Financial Corp acquired a new stake in Tesla in the 4th quarter valued at approximately $215,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.
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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