Tesla (NASDAQ:TSLA) Receives Buy Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Monday, Borsen Zeitung reports. Jefferies Financial Group currently has a $400.00 price objective on the electric vehicle producer’s stock, up from their prior price objective of $300.00.

Several other research analysts also recently commented on the stock. Cowen set a $140.00 price target on shares of Tesla and gave the stock a sell rating in a research note on Monday, September 30th. CIBC decreased their price target on shares of Tesla from $437.00 to $356.00 and set an outperform rating on the stock in a research note on Thursday, July 25th. TheStreet raised shares of Tesla from a d+ rating to a c- rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reissued a sell rating and set a $220.00 price target on shares of Tesla in a research note on Thursday, October 24th. Finally, Nomura reissued a neutral rating on shares of Tesla in a research note on Thursday, October 3rd. Eighteen equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $265.23.

Shares of TSLA opened at $349.35 on Monday. The company has a market capitalization of $62.20 billion, a P/E ratio of -61.08 and a beta of 0.58. Tesla has a 1-year low of $176.99 and a 1-year high of $379.49. The firm’s 50 day simple moving average is $279.40 and its 200 day simple moving average is $239.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 0.73.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $1.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $2.28. The firm had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.48 billion. Tesla had a negative net margin of 3.39% and a negative return on equity of 13.42%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.90 earnings per share. On average, equities analysts anticipate that Tesla will post -5.12 earnings per share for the current year.

In related news, Director Kimbal Musk sold 64,190 shares of Tesla stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $350.06, for a total value of $22,470,351.40. Following the sale, the director now owns 198,238 shares in the company, valued at $69,395,194.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $242.47, for a total transaction of $36,370.50. Following the completion of the sale, the chief financial officer now owns 10,001 shares in the company, valued at approximately $2,424,942.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,006 shares of company stock worth $26,393,411. 24.40% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Tesla by 4.6% during the 3rd quarter. Cetera Investment Advisers now owns 1,718 shares of the electric vehicle producer’s stock valued at $411,000 after buying an additional 75 shares in the last quarter. Cetera Advisors LLC boosted its holdings in shares of Tesla by 7.2% during the 3rd quarter. Cetera Advisors LLC now owns 5,003 shares of the electric vehicle producer’s stock valued at $1,200,000 after buying an additional 338 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Tesla by 19.3% during the 3rd quarter. Cetera Advisor Networks LLC now owns 7,427 shares of the electric vehicle producer’s stock valued at $1,781,000 after buying an additional 1,200 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Tesla by 19.6% during the 3rd quarter. Checchi Capital Advisers LLC now owns 1,339 shares of the electric vehicle producer’s stock valued at $323,000 after buying an additional 219 shares in the last quarter. Finally, Tiedemann Advisors LLC boosted its holdings in shares of Tesla by 161.4% during the 3rd quarter. Tiedemann Advisors LLC now owns 3,524 shares of the electric vehicle producer’s stock valued at $849,000 after buying an additional 2,176 shares in the last quarter. Institutional investors and hedge funds own 54.44% of the company’s stock.

About Tesla

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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