Tesla Motors Inc. (TSLA) Lowered to Hold at Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $213.40 price target on the electric vehicle producer’s stock. Vetr‘s target price would indicate a potential downside of 0.14% from the stock’s current price.
A number of other analysts also recently commented on TSLA. Zacks Investment Research downgraded Tesla Motors from a “hold” rating to a “sell” rating in a research report on Wednesday, June 8th. Piper Jaffray Cos. initiated coverage on Tesla Motors in a research report on Thursday, June 9th. They set a “neutral” rating and a $223.00 target price for the company. Pacific Crest restated a “hold” rating and set a $212.00 target price on shares of Tesla Motors in a research report on Monday, June 13th. Global Equities Research restated a “buy” rating and set a $385.00 target price on shares of Tesla Motors in a research report on Monday, June 13th. Finally, Oppenheimer Holdings Inc. downgraded Tesla Motors from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $264.75 to $195.00 in a research report on Wednesday, June 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Tesla Motors presently has an average rating of “Hold” and a consensus target price of $248.49.
Tesla Motors (NASDAQ:TSLA) traded up 4.74% during trading on Monday, hitting $213.70. The stock had a trading volume of 5,999,892 shares. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34. The company has a 50 day moving average of $209.48 and a 200-day moving average of $222.41. The company’s market cap is $31.78 billion.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business posted ($0.48) EPS. Tesla Motors’s revenue was up 30.5% compared to the same quarter last year. On average, equities analysts predict that Tesla Motors will post ($0.93) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Trust Co. of Vermont raised its position in Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock valued at $114,000 after buying an additional 95 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock worth $115,000 after buying an additional 1,305 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock worth $116,000 after buying an additional 180 shares during the period. D. Scott Neal Inc. raised its stake in shares of Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock worth $121,000 after buying an additional 100 shares during the period. Finally, First Manhattan Co. raised its stake in shares of Tesla Motors by 9.3% in the second quarter. First Manhattan Co. now owns 588 shares of the electric vehicle producer’s stock worth $124,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 66.62% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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