Tesla (TSLA) Earns Neutral Rating from Analysts at Roth Capital

Roth Capital began coverage on shares of Tesla (NASDAQ:TSLA) in a research note published on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $270.00 price objective on the electric vehicle producer’s stock.

A number of other analysts have also recently weighed in on TSLA. BidaskClub cut Tesla from a buy rating to a hold rating in a research note on Wednesday, July 4th. ValuEngine upgraded Tesla from a hold rating to a buy rating in a research report on Friday, July 6th. Goldman Sachs Group reiterated a sell rating on shares of Tesla in a research report on Sunday, July 8th. Bank of America set a $180.00 target price on Tesla and gave the stock a sell rating in a research report on Sunday, July 8th. Finally, Royal Bank of Canada set a $280.00 target price on Tesla and gave the stock a neutral rating in a research report on Monday, July 9th. Thirteen investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tesla has a consensus rating of Hold and an average target price of $318.58.

Shares of NASDAQ TSLA opened at $346.41 on Thursday. The firm has a market capitalization of $59.10 billion, a PE ratio of -30.18 and a beta of 0.48. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73. Tesla has a 12-month low of $244.59 and a 12-month high of $387.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.77) by $4.67. Tesla had a negative return on equity of 34.62% and a negative net margin of 10.22%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $5.67 billion. As a group, analysts anticipate that Tesla will post -5.09 earnings per share for the current year.

In other Tesla news, CEO Elon Musk acquired 29,844 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average price of $334.98 per share, with a total value of $9,997,143.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the completion of the sale, the director now directly owns 150,208 shares in the company, valued at approximately $45,963,648. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Tesla by 2.0% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 20,425 shares of the electric vehicle producer’s stock worth $5,408,000 after acquiring an additional 400 shares in the last quarter. FineMark National Bank & Trust boosted its stake in shares of Tesla by 14.9% during the 3rd quarter. FineMark National Bank & Trust now owns 2,720 shares of the electric vehicle producer’s stock worth $720,000 after acquiring an additional 352 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in shares of Tesla by 25.5% during the 3rd quarter. Buckingham Asset Management LLC now owns 2,669 shares of the electric vehicle producer’s stock worth $707,000 after acquiring an additional 543 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Tesla by 4.1% during the 3rd quarter. CIBC Asset Management Inc now owns 13,369 shares of the electric vehicle producer’s stock worth $3,540,000 after acquiring an additional 521 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Tesla by 11.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,154 shares of the electric vehicle producer’s stock worth $4,542,000 after acquiring an additional 1,810 shares in the last quarter. 62.15% of the stock is currently owned by institutional investors.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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