Tesla (NASDAQ:TSLA) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

TSLA has been the subject of several other reports. Nomura decreased their target price on Tesla from $300.00 to $270.00 and set a neutral rating for the company in a research report on Thursday, July 25th. Robert W. Baird decreased their target price on Tesla from $400.00 to $340.00 and set an outperform rating for the company in a research report on Tuesday, May 21st. Wedbush reaffirmed a hold rating and set a $230.00 target price on shares of Tesla in a research report on Thursday, July 25th. Evercore ISI decreased their target price on Tesla from $240.00 to $200.00 and set an underperform rating for the company in a research report on Wednesday, May 15th. They noted that the move was a valuation call. Finally, Cfra lowered Tesla to a sell rating and set a $135.00 target price for the company. in a research report on Friday, July 26th. Eighteen investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $269.53.

Shares of Tesla stock opened at $211.40 on Tuesday. Tesla has a 1 year low of $176.99 and a 1 year high of $379.49. The firm has a market cap of $37.87 billion, a PE ratio of -36.96 and a beta of 0.60. The stock has a fifty day moving average price of $236.14 and a 200-day moving average price of $249.68. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the business earned ($3.06) earnings per share. The company’s revenue for the quarter was up 58.7% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla will post -7.51 EPS for the current fiscal year.

In other Tesla news, Director Antonio J. Gracias sold 33,766 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $180.35, for a total value of $6,089,698.10. Following the completion of the transaction, the director now owns 14,232 shares in the company, valued at approximately $2,566,741.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $189.89, for a total value of $2,848,350.00. Following the completion of the transaction, the insider now owns 321,398 shares of the company’s stock, valued at approximately $61,030,266.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,066 shares of company stock valued at $15,819,400. 24.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TSLA. Dimensional Fund Advisors LP increased its position in shares of Tesla by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 102,459 shares of the electric vehicle producer’s stock worth $34,103,000 after purchasing an additional 2,076 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in shares of Tesla during the 1st quarter worth about $1,177,000. Strs Ohio increased its position in shares of Tesla by 0.3% during the 1st quarter. Strs Ohio now owns 63,923 shares of the electric vehicle producer’s stock worth $17,889,000 after purchasing an additional 185 shares in the last quarter. CWM LLC increased its position in shares of Tesla by 9.8% during the 1st quarter. CWM LLC now owns 4,485 shares of the electric vehicle producer’s stock worth $1,255,000 after purchasing an additional 400 shares in the last quarter. Finally, BB&T Corp increased its position in shares of Tesla by 24.8% during the 1st quarter. BB&T Corp now owns 855 shares of the electric vehicle producer’s stock worth $239,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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