Investment analysts at Berenberg Bank initiated coverage on shares of Tesla Motors Inc. (NASDAQ:TSLA) in a report issued on Tuesday. The brokerage set a “hold” rating on the electric vehicle producer’s stock.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird set a $338.00 price target on shares of Tesla Motors and gave the company a “buy” rating in a research report on Saturday, November 19th. Morgan Stanley reissued an “equal weight” rating and set a $245.00 price target on shares of Tesla Motors in a research report on Wednesday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $290.00 target price on shares of Tesla Motors in a research report on Monday, July 25th. Global Equities Research reaffirmed a “buy” rating and issued a $385.00 target price on shares of Tesla Motors in a research report on Thursday, October 27th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a research report on Thursday, October 27th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $241.79.

Analyst Recommendations for Tesla Motors (NASDAQ:TSLA)

Tesla Motors (NASDAQ:TSLA) opened at 193.14 on Tuesday. The firm’s 50-day moving average is $194.74 and its 200-day moving average is $210.35. The stock’s market cap is $28.95 billion. 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, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.25. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The company’s revenue was up 145.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) EPS. Equities research analysts predict that Tesla Motors will post ($2.04) earnings per share for the current year.

In other Tesla Motors news, Director Kimbal Musk sold 2,779 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total value of $549,130.40. Following the sale, the director now directly owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 27.70% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of TSLA. Advisory Services Network LLC raised its stake in shares of Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in shares of Tesla Motors by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 237 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock worth $114,000 after buying an additional 95 shares during 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 last quarter. Finally, 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 last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NASDAQ:TSLA

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