Tesla (TSLA) Downgraded by BidaskClub to “Sell”
Tesla (NASDAQ:TSLA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.
A number of other research firms have also weighed in on TSLA. Zacks Investment Research lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Oppenheimer reissued a “hold” rating on shares of Tesla in a research report on Monday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $200.00 to $195.00 and set an “underweight” rating on the stock in a research report on Friday, October 20th. Piper Jaffray Companies set a $386.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Vetr raised shares of Tesla from a “sell” rating to a “hold” rating and set a $336.07 price objective on the stock in a research report on Tuesday, January 30th. Thirteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $324.20.
Shares of Tesla (TSLA) opened at $322.31 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. Tesla has a 1 year low of $242.01 and a 1 year high of $389.61. The firm has a market cap of $54,170.00, a PE ratio of -27.34 and a beta of 0.97.
In other news, Director Kimbal Musk sold 4,065 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the transaction, the director now directly owns 154,589 shares in the company, valued at $48,244,135.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 1,229 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $312.61, for a total transaction of $384,197.69. Following the transaction, the vice president now owns 4,808 shares in the company, valued at $1,503,028.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,231 shares of company stock worth $3,292,431. Insiders own 23.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Tesla by 17.1% in the fourth quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock valued at $1,053,158,000 after acquiring an additional 494,761 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Tesla by 126.6% in the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after acquiring an additional 305,596 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Tesla by 77.1% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock valued at $197,922,000 after acquiring an additional 276,781 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $30,045,000. Finally, Ariose Capital Management Ltd acquired a new stake in Tesla in the third quarter valued at approximately $30,733,000. Hedge funds and other institutional investors own 57.49% of the company’s stock.
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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.
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