Tesla (TSLA) Upgraded to Sell by Vetr

Vetr upgraded shares of Tesla (NASDAQ:TSLA) from a strong sell rating to a sell rating in a research report report published on Wednesday morning. They currently have $293.06 target price on the electric vehicle producer’s stock.

Several other equities analysts have also recently issued reports on TSLA. BidaskClub cut Tesla from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Deutsche Bank reissued a hold rating and set a $320.00 target price (up from $240.00) on shares of Tesla in a research note on Tuesday, September 5th. Morgan Stanley reissued a hold rating and set a $317.00 target price on shares of Tesla in a research note on Thursday, September 7th. Barclays reissued an underweight rating and set a $210.00 target price (up from $165.00) on shares of Tesla in a research note on Wednesday, September 13th. Finally, Sanford C. Bernstein reissued a hold rating and set a $265.00 target price on shares of Tesla in a research note on Thursday, September 14th. Thirteen analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $331.43.

Tesla (TSLA) traded down $2.12 on Wednesday, hitting $328.98. The stock had a trading volume of 5,953,800 shares, compared to its average volume of 6,384,744. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla has a 52-week low of $206.50 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year. equities analysts anticipate that Tesla will post -11.38 EPS for the current year.

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total value of $723,335.10. Following the sale, the director now directly owns 154,419 shares of the company’s stock, valued at $51,003,051.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the sale, the vice president now directly owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,817 shares of company stock worth $4,171,699. 23.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Capital World Investors lifted its holdings in shares of Tesla by 0.6% during the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock valued at $1,090,815,000 after purchasing an additional 17,452 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Tesla by 126.6% during the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after purchasing an additional 305,596 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Tesla by 1.3% during the third quarter. Legal & General Group Plc now owns 545,371 shares of the electric vehicle producer’s stock valued at $186,026,000 after purchasing an additional 7,119 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Tesla by 3.0% during the third quarter. Swiss National Bank now owns 484,385 shares of the electric vehicle producer’s stock valued at $165,224,000 after purchasing an additional 14,200 shares in the last quarter. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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