Tesla (TSLA) Bonds Drop 1.3% During Trading

An issue of Tesla Inc (NASDAQ:TSLA) debt fell 1.3% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 5.3% coupon and is set to mature on August 15, 2025. The debt is now trading at $87.75 and was trading at $91.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

A number of equities research analysts recently issued reports on TSLA shares. BidaskClub cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Morgan Stanley set a $376.00 price target on shares of Tesla and gave the company a “hold” rating in a research note on Friday, April 27th. Goldman Sachs Group set a $195.00 price target on shares of Tesla and gave the company a “sell” rating in a research note on Tuesday, May 1st. ValuEngine cut shares of Tesla from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Royal Bank of Canada dropped their price target on shares of Tesla to $280.00 and set a “market perform” rating on the stock in a research note on Thursday, May 3rd. Eleven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $312.54.

Shares of NASDAQ TSLA traded up $2.94 during trading on Monday, hitting $308.44. 17,387,000 shares of the company were exchanged, compared to its average volume of 8,319,493. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $389.61. The company has a quick ratio of 0.37, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. The firm has a market cap of $60.64 billion, a PE ratio of -26.49 and a beta of 0.65.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.55. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the firm earned ($1.33) EPS. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. research analysts expect that Tesla Inc will post -10.77 EPS for the current year.

In other news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $358.26, for a total transaction of $671,737.50. Following the transaction, the director now owns 150,208 shares in the company, valued at approximately $53,813,518.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Elon Musk purchased 55,000 shares of Tesla stock in a transaction dated Tuesday, June 12th. The shares were bought at an average price of $343.19 per share, for a total transaction of $18,875,450.00. The disclosure for this purchase can be found here. 22.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Wealth Management LLC purchased a new stake in Tesla in the 2nd quarter valued at about $103,000. Macroview Investment Management LLC purchased a new stake in Tesla in the 1st quarter valued at about $106,000. Jacobi Capital Management LLC raised its holdings in Tesla by 154.4% in the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 261 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in Tesla in the 1st quarter valued at about $114,000. Finally, Stelac Advisory Services LLC purchased a new stake in Tesla in the 2nd quarter valued at about $114,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

About Tesla (NASDAQ:TSLA)

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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