Tesla Motors Inc. (TSLA) Stock Rating Lowered by Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $200.43 price target on the electric vehicle producer’s stock. Vetr‘s price target indicates a potential upside of 1.92% from the company’s previous close.
A number of other analysts have also issued reports on TSLA. Robert W. Baird reissued a “buy” rating and set a $338.00 target price on shares of Tesla Motors in a research note on Monday, August 1st. Morgan Stanley reissued an “equal weight” rating and set a $245.00 target price on shares of Tesla Motors in a research note on Wednesday, August 3rd. FBN Securities boosted their target price on shares of Tesla Motors from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Tesla Motors in a research note on Friday, August 5th. Finally, Cowen and Company assumed coverage on Tesla Motors in a report on Thursday, September 8th. They issued an “underperform” rating and a $160.00 price objective for the company. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Tesla Motors currently has an average rating of “Hold” and an average target price of $250.47.
Tesla Motors (NASDAQ:TSLA) opened at 196.65 on Monday. The firm has a 50-day moving average of $194.23 and a 200-day moving average of $210.26. Tesla Motors has a 1-year low of $141.05 and a 1-year high of $269.34. The stock’s market cap is $29.48 billion.
Tesla Motors (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $1.25. The firm earned $2.30 billion during the quarter, compared to analyst estimates of $2.33 billion. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The business’s revenue was up 145.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.58) earnings per share. Analysts expect that Tesla Motors will post ($2.04) EPS for the current fiscal year.
In other Tesla Motors news, insider Jeffrey B. Straubel sold 33,430 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total value of $6,379,112.60. Following the completion of the sale, the insider now directly owns 359,655 shares of the company’s stock, valued at approximately $68,629,367.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 2,779 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total value of $549,130.40. Following the completion of the sale, the director now directly owns 154,644 shares of the company’s stock, valued at $30,557,654.40. The disclosure for this sale can be found here. 27.70% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of TSLA. Piedmont Investment Advisors LLC acquired a new position in Tesla Motors during the third quarter worth $4,915,000. Cable Hill Partners LLC boosted its position in Tesla Motors by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Tesla Motors by 2.9% in the third quarter. Ameritas Investment Partners Inc. now owns 2,680 shares of the electric vehicle producer’s stock worth $547,000 after buying an additional 76 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Tesla Motors by 5.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,600 shares of the electric vehicle producer’s stock worth $735,000 after buying an additional 200 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new position in Tesla Motors during the third quarter worth $254,000. 64.36% of the stock is owned by institutional investors and hedge funds.
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.
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