Tesla Inc (NASDAQ:TSLA) Receives Average Rating of “Hold” from Analysts

Shares of Tesla Inc (NASDAQ:TSLA) have received an average rating of “Hold” from the forty-two research firms that are covering the stock, MarketBeat Ratings reports. Eighteen analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $258.59.

TSLA has been the topic of several analyst reports. Morgan Stanley reiterated a “weight” rating on shares of Tesla in a research note on Thursday, October 3rd. Cfra lowered Tesla to a “sell” rating and set a $135.00 target price on the stock. in a research note on Friday, July 26th. Barclays reiterated an “underweight” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 25th. Credit Suisse Group set a $189.00 target price on Tesla and gave the company a “sell” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of Tesla in a research note on Thursday, October 3rd.

In related news, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $230.45, for a total transaction of $3,456,750.00. Following the completion of the sale, the insider now owns 287,723 shares of the company’s stock, valued at $66,305,765.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $232.72 per share, with a total value of $232,720.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $232,720. The disclosure for this purchase can be found here. Insiders have sold 15,450 shares of company stock worth $3,565,073 in the last 90 days. Insiders own 24.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TSLA. Gemmer Asset Management LLC lifted its holdings in Tesla by 14.6% in the third quarter. Gemmer Asset Management LLC now owns 433 shares of the electric vehicle producer’s stock valued at $104,000 after acquiring an additional 55 shares during the period. Alpine Group USVI LLC acquired a new position in Tesla in the third quarter valued at approximately $241,000. Intellectus Partners LLC lifted its holdings in Tesla by 9.6% in the third quarter. Intellectus Partners LLC now owns 7,665 shares of the electric vehicle producer’s stock valued at $1,846,000 after acquiring an additional 674 shares during the period. Pacer Advisors Inc. lifted its holdings in Tesla by 13.7% in the third quarter. Pacer Advisors Inc. now owns 12,289 shares of the electric vehicle producer’s stock valued at $2,960,000 after acquiring an additional 1,483 shares during the period. Finally, New Capital Management LP lifted its holdings in Tesla by 101.0% in the third quarter. New Capital Management LP now owns 199 shares of the electric vehicle producer’s stock valued at $48,000 after acquiring an additional 100 shares during the period. 54.41% of the stock is owned by hedge funds and other institutional investors.

TSLA traded up $9.07 on Monday, hitting $256.96. The company had a trading volume of 10,085,786 shares, compared to its average volume of 9,094,512. The stock has a fifty day moving average price of $233.20 and a 200-day moving average price of $235.28. Tesla has a 12-month low of $176.99 and a 12-month high of $379.49. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a market capitalization of $46.03 billion, a price-to-earnings ratio of -44.92 and a beta of 0.52.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the firm earned ($3.06) EPS. Tesla’s revenue for the quarter was up 58.7% on a year-over-year basis. Analysts forecast that Tesla will post -7.51 EPS for the current fiscal year.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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