Tesla (NASDAQ:TSLA) Given “Buy” Rating at New Street Research

New Street Research reissued their buy rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Tuesday, Benzinga reports. New Street Research currently has a $235.00 target price on the electric vehicle producer’s stock.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group decreased their price objective on shares of Tesla from $234.00 to $222.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Morgan Stanley reaffirmed an overweight rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Sanford C. Bernstein reissued an underperform rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, Barclays cut their price target on Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $187.30.

Tesla Stock Performance

Shares of TSLA stock opened at $187.35 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $175.02 and a 200-day simple moving average of $192.25. The company has a market cap of $597.50 billion, a price-to-earnings ratio of 47.79, a price-to-earnings-growth ratio of 4.54 and a beta of 2.32. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, equities analysts forecast that Tesla will post 1.87 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock worth $19,285,643 in the last ninety days. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Apexium Financial LP boosted its holdings in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after acquiring an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP grew its holdings in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC lifted its holdings in Tesla by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.