Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Tesla’s estimates have been going down lately. The company has a negative record of surprises in recent quarters. After missing delivery targets in the first two quarters, Tesla significantly increased production and delivery volumes in the third quarter. The company expects to marginally increase production and delivery volume in the fourth quarter. As a result, volumes are expected to be very close to the target of 50,000 units for the second half. Tesla faces numerous headwinds, including continuous losses, high expenses and production constraints. Moreover, SolarCity’s high debt and cash outflows are concerns regarding the merger.”

A number of other research analysts have also commented on the stock. Vetr upgraded shares of Tesla Motors from a “hold” rating to a “buy” rating and set a $211.43 price target on the stock in a research note on Wednesday. Barclays PLC set a $165.00 price objective on shares of Tesla Motors and gave the stock a “sell” rating in a report on Monday. Robert W. Baird reissued an “outperform” rating and set a $338.00 price objective on shares of Tesla Motors in a report on Friday, October 7th. Goldman Sachs Group Inc. downgraded shares of Tesla Motors from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $240.00 to $185.00 in a report on Thursday, October 6th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $245.00 price objective on shares of Tesla Motors in a report on Wednesday, October 5th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tesla Motors has a consensus rating of “Hold” and an average target price of $246.30.

Analyst Recommendations for Tesla Motors (NASDAQ:TSLA)

Shares of Tesla Motors (NASDAQ:TSLA) traded up 1.11% during mid-day trading on Wednesday, hitting $202.33. The company had a trading volume of 1,620,421 shares. The firm’s market capitalization is $30.08 billion. The firm has a 50-day moving average price of $205.90 and a 200 day moving average price of $221.27. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34.

Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned ($0.48) earnings per share. Tesla Motors’s revenue was up 30.5% on a year-over-year basis. Analysts expect that Tesla Motors will post ($0.93) earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock valued at $100,000 after buying an additional 62 shares during the last quarter. Trust Co. of Vermont boosted 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 during the last quarter. Toronto Dominion Bank boosted its position in Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock valued at $115,000 after buying an additional 1,305 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock valued at $116,000 after buying an additional 180 shares during the last quarter. Finally, D. Scott Neal Inc. boosted its position in Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock valued at $121,000 after buying an additional 100 shares during the last quarter. Institutional investors own 66.62% of the company’s stock.

Tesla Motors Company Profile

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.

5 Day Chart for NASDAQ:TSLA

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