Tesla (NASDAQ:TSLA) Cut to Strong Sell at Phillip Securities

Phillip Securities lowered shares of Tesla (NASDAQ:TSLA) from a moderate sell rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other analysts have also recently commented on the company. Piper Sandler lifted their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Wedbush increased their price objective on Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Guggenheim raised their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Nine 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 data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Up 3.1 %

Tesla stock opened at $320.72 on Wednesday. Tesla has a twelve month low of $138.80 and a twelve month high of $358.64. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 87.49, a P/E/G ratio of 10.73 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $250.10 and its 200-day simple moving average is $219.58.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. As a group, equities analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TSLA. Oppenheimer & Co. Inc. lifted its position in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. increased its position in Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after purchasing an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd grew its position in shares of Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. 66.20% of the stock is currently owned by 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.