Tesla (TSLA) Given Sell Rating at Cowen

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by research analysts at Cowen in a note issued to investors on Friday.

Other research analysts have also recently issued reports about the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $265.00 price target on shares of Tesla in a research report on Tuesday, October 3rd. Instinet began coverage on Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target for the company. Nomura began coverage on Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target for the company. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $308.16 price target for the company in a research report on Tuesday, October 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Tesla in a research report on Thursday, January 4th. Eleven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. Tesla has an average rating of “Hold” and a consensus price target of $329.48.

Shares of Tesla (TSLA) traded down $2.59 during mid-day trading on Friday, reaching $344.57. The company had a trading volume of 5,684,900 shares, compared to its average volume of 6,288,333. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. The stock has a market capitalization of $58,810.00, a PE ratio of -40.25 and a beta of 0.94. Tesla has a 52 week low of $240.75 and a 52 week high of $389.61.

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

In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction that occurred 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. Insiders sold 15,692 shares of company stock worth $5,026,873 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $100,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Tesla in the third quarter worth approximately $106,000. First Personal Financial Services acquired a new stake in shares of Tesla in the third quarter worth approximately $148,000. WFG Advisors LP boosted its stake in shares of Tesla by 106.8% in the second quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock worth $165,000 after acquiring an additional 236 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Tesla by 21.6% in the second quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after acquiring an additional 95 shares during the last quarter. 57.13% 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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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