Tesla (NASDAQ:TSLA) Rating Increased to Hold at StockNews.com

Tesla (NASDAQ:TSLA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts have also commented on the company. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Royal Bank of Canada lifted their price objective on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho lifted their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

Shares of Tesla stock opened at $269.19 on Thursday. The stock has a market cap of $859.97 billion, a PE ratio of 74.97, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The firm has a fifty day moving average price of $229.47 and a 200 day moving average price of $206.79. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TSLA. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Clean Yield Group grew its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.