Tesla Motors Inc. (TSLA) Stock Rating Lowered by Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They currently have a $200.97 target price on the electric vehicle producer’s stock. Vetr‘s price target would suggest a potential upside of 6.52% from the company’s previous close.
A number of other analysts have also weighed in on TSLA. Barclays PLC set a $165.00 target price on Tesla Motors and gave the stock a “sell” rating in a report on Tuesday, July 19th. RBC Capital Markets set a $210.00 target price on Tesla Motors and gave the stock a “hold” rating in a report on Thursday, July 21st. S&P Equity Research upgraded Tesla Motors from a “sell” rating to a “hold” rating and set a $200.00 target price for the company in a report on Sunday, July 24th. Global Equities Research restated an “overweight” rating and set a $385.00 target price on shares of Tesla Motors in a report on Sunday, July 24th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $240.00 target price on shares of Tesla Motors in a report on Monday, July 25th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Tesla Motors presently has an average rating of “Hold” and an average target price of $249.01.
Shares of Tesla Motors (NASDAQ:TSLA) opened at 188.66 on Wednesday. Tesla Motors has a one year low of $141.05 and a one year high of $269.34. The company has a 50 day moving average price of $196.86 and a 200 day moving average price of $211.48. The company’s market cap is $28.28 billion.
Tesla Motors (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.25. The company earned $2.30 billion during the quarter, compared to analyst estimates of $2.33 billion. Tesla Motors had a negative return on equity of 29.17% and a negative net margin of 14.74%. Tesla Motors’s revenue was up 145.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) earnings per share. Equities analysts predict that Tesla Motors will post ($2.04) EPS for the current year.
In other news, Director Kimbal Musk sold 2,779 shares of Tesla Motors stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $197.60, for a total transaction of $549,130.40. Following the sale, the director now owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 27.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its stake in Tesla Motors by 31.0% in the second quarter. NEXT Financial Group Inc now owns 1,053 shares of the electric vehicle producer’s stock valued at $223,000 after buying an additional 249 shares during the last quarter. Seven Eight Capital LLC purchased a new stake in Tesla Motors during the first quarter valued at approximately $1,509,000. Southpoint Capital Advisors LP purchased a new stake in Tesla Motors during the first quarter valued at approximately $11,489,000. EP Wealth Advisors Inc. purchased a new stake in Tesla Motors during the first quarter valued at approximately $793,000. Finally, Amici Capital LLC purchased a new stake in Tesla Motors during the first quarter valued at approximately $3,447,000. 64.83% of the stock is currently owned by hedge funds and other institutional investors.
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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