Citigroup Initiates Coverage on Tesla (TSLA)

Equities research analysts at Citigroup assumed coverage on shares of Tesla (NASDAQ:TSLA) in a report released on Tuesday. The brokerage set a “buy” rating and a $425.00 price target on the electric vehicle producer’s stock. Citigroup’s price target suggests a potential upside of 31.86% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $282.88 price target on the stock in a research report on Thursday, November 2nd. Global Equities Research reaffirmed a “buy” rating and set a $485.00 price target on shares of Tesla in a research report on Wednesday, November 29th. Jefferies Group cut Tesla from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $312.00 to $240.00 in a research report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of Tesla in a report on Friday, November 10th. Finally, BidaskClub raised Tesla from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 12th. Thirteen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Tesla has a consensus rating of “Hold” and an average target price of $324.20.

Tesla (NASDAQ TSLA) opened at $322.31 on Tuesday. Tesla has a 1 year low of $242.01 and a 1 year high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. The company has a market capitalization of $54,170.00, a price-to-earnings ratio of -27.34 and a beta of 0.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating analysts’ consensus estimates of ($3.12) by $0.08. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the firm earned ($0.69) EPS. The business’s revenue for the quarter was up 43.9% compared to the same quarter last year. sell-side analysts forecast that Tesla will post -15.15 earnings per share for the current fiscal year.

In other news, Director Kimbal Musk sold 4,065 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was 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 approximately $48,244,135.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Branderiz sold 801 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now owns 1,287 shares in the company, valued at $456,344.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,231 shares of company stock worth $3,292,431. Insiders own 23.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in TSLA. Wealthcare Advisory Partners LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $100,000. Truewealth LLC bought a new position in shares of Tesla during the 4th quarter valued at about $102,000. Mckinley Capital Management LLC Delaware bought a new position in shares of Tesla during the 3rd quarter valued at about $106,000. Avestar Capital LLC bought a new position in shares of Tesla during the 4th quarter valued at about $144,000. Finally, First Personal Financial Services bought a new position in shares of Tesla during the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 57.49% of the company’s stock.

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About Tesla

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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