Tesla Inc. (TSLA) Stock Rating Lowered by Vetr Inc.
Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group, Inc. (The) boosted their price objective on Tesla from $180.00 to $190.00 in a research note on Friday, August 4th. Dougherty & Co restated a buy rating and issued a $375.00 price objective (down from $500.00) on shares of Tesla in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Tesla from a hold rating to a buy rating and set a $345.00 price objective on the stock in a research note on Tuesday, April 25th. Guggenheim restated a buy rating and issued a $320.00 price objective on shares of Tesla in a research note on Wednesday, April 19th. Finally, Berenberg Bank upgraded Tesla from a hold rating to a buy rating and boosted their price objective for the company from $193.00 to $464.00 in a research note on Tuesday, June 13th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. Tesla currently has an average rating of Hold and an average target price of $310.34.
Tesla (NASDAQ:TSLA) opened at 362.33 on Tuesday. The company’s market capitalization is $60.47 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The company’s 50-day moving average is $340.14 and its 200-day moving average is $309.43.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted ($1.06) EPS. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, analysts expect that Tesla will post ($6.34) earnings per share for the current fiscal year.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC boosted its position in shares of Tesla by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after buying an additional 4 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 9 shares during the last quarter. Clarius Group LLC boosted its position in shares of Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 16 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after buying an additional 18 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
To view Vetr’s full report, visit Vetr’s official website.
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