Tesla Inc. (TSLA) Price Target Cut to $195.00 by Analysts at J P Morgan Chase & Co
Tesla Inc. (NASDAQ:TSLA) had its price objective lowered by J P Morgan Chase & Co from $200.00 to $195.00 in a report released on Friday. The firm currently has an underweight rating on the electric vehicle producer’s stock.
Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the company a neutral rating in a research report on Wednesday, September 20th. Citigroup Inc. assumed coverage on shares of Tesla in a research report on Thursday, July 20th. They issued a neutral rating and a $357.00 price objective on the stock. Berenberg Bank restated a buy rating on shares of Tesla in a research report on Thursday, August 3rd. Vetr upgraded shares of Tesla from a hold rating to a buy rating and set a $372.51 price objective on the stock in a research report on Thursday, August 10th. Finally, Jefferies Group LLC assumed coverage on shares of Tesla in a research report on Tuesday, September 19th. They issued an underperform rating and a $280.00 price objective on the stock. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. Tesla has an average rating of Hold and an average price target of $327.20.
Tesla (TSLA) traded down 1.91% during mid-day trading on Friday, reaching $345.10. The company had a trading volume of 4,930,395 shares. The firm’s market capitalization is $57.59 billion. Tesla has a 12-month low of $178.19 and a 12-month high of $389.61. The firm has a 50-day moving average price of $355.47 and a 200 day moving average price of $339.93.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue was up 119.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.06) EPS. Analysts expect that Tesla will post ($6.59) EPS for the current year.
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In other news, VP Eric Branderiz sold 99 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. Insiders have sold 51,446 shares of company stock valued at $17,504,929 in the last quarter. 23.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. raised its stake in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after acquiring an additional 50 shares during the period. Winfield Associates Inc. raised its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 150 shares during the period. Acropolis Investment Management LLC purchased a new stake in shares of Tesla in the second quarter valued at $122,000. North Star Investment Management Corp. raised its stake 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 acquiring an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. raised its stake in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after acquiring an additional 28 shares during the period. 56.62% of the stock is currently owned by institutional investors and hedge funds.
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.
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