Tesla (NASDAQ:TSLA) Earns Sell Rating from Glj Research

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “sell” rating restated by equities researchers at Glj Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s price objective would suggest a potential downside of 93.47% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas Exane cut shares of Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Truist Financial increased their target price on Tesla from $400.00 to $430.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Guggenheim began coverage on Tesla in a report on Monday, June 29th. They issued a “neutral” rating on the stock. Mizuho reduced their price objective on Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, China Renaissance decreased their price objective on Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $408.05.

Check Out Our Latest Analysis on TSLA

Tesla Stock Up 3.1%

TSLA stock traded up $11.30 during mid-day trading on Tuesday, hitting $380.87. 15,818,080 shares of the company were exchanged, compared to its average volume of 56,496,469. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The firm has a market cap of $1.43 trillion, a P/E ratio of 349.60, a P/E/G ratio of 13.08 and a beta of 1.80. The firm’s 50 day simple moving average is $407.91 and its 200 day simple moving average is $405.03. Tesla has a 1-year low of $297.82 and a 1-year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, sell-side analysts predict that Tesla will post 1.34 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the transaction, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. Networth Advisors LLC acquired a new stake in Tesla in the fourth quarter valued at $26,000. Davidson Capital Management Inc. increased its stake in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at about $30,000. Prism Advisors Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in Tesla in the 3rd quarter valued at about $31,000. 66.20% of the stock is owned by institutional investors.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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