Tesla’s (TSLA) “Sell” Rating Reiterated at Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $24.86 target price on the electric vehicle producer’s stock.

TSLA has been the subject of several other research reports. Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Finally, Mizuho restated an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $326.50.

Tesla Trading Down 0.0 %

TSLA opened at $355.84 on Wednesday. The stock has a market capitalization of $1.14 trillion, a PE ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The firm’s fifty day moving average price is $406.98 and its 200 day moving average price is $306.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts expect that Tesla will post 2.54 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $29,000. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter valued at approximately $35,000. GS Investments Inc. raised its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Finally, Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Institutional investors own 66.20% of the company’s stock.

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.