Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by Sanford C. Bernstein in a research report issued to clients and investors on Friday. They presently have a $265.00 target price on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 20.57% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Nomura reaffirmed a “buy” rating and issued a $420.00 target price on shares of Tesla in a report on Thursday, March 29th. Vertical Group started coverage on Tesla in a report on Tuesday, April 10th. They issued a “sell” rating and a $84.00 target price on the stock. Jefferies Financial Group raised Tesla from an “underperform” rating to a “hold” rating and set a $250.00 target price on the stock in a report on Monday, April 2nd. Goldman Sachs Group cut their price target on Tesla from $205.00 to $195.00 and set a “sell” rating for the company in a research note on Tuesday, April 10th. Finally, Vetr lowered Tesla from a “hold” rating to a “sell” rating and set a $341.15 price target for the company. in a research note on Monday, February 26th. Eleven research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $299.36.
Tesla stock traded down $13.88 during trading on Friday, reaching $333.63. The company had a trading volume of 10,252,992 shares, compared to its average volume of 9,425,025. Tesla has a 52 week low of $244.59 and a 52 week high of $389.61. The stock has a market cap of $59.01 billion, a P/E ratio of -29.06 and a beta of 0.88. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.44 and a current ratio of 0.74.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.95). Tesla had a negative return on equity of 40.72% and a negative net margin of 18.77%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the business posted ($1.33) earnings per share. Tesla’s revenue for the quarter was up 26.4% compared to the same quarter last year. analysts predict that Tesla will post -10.94 EPS for the current year.
In related news, VP John Douglas Field sold 3,000 shares of Tesla stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $359.27, for a total value of $1,077,810.00. Following the completion of the transaction, the vice president now owns 20,964 shares in the company, valued at $7,531,736.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Elon Musk purchased 33,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was bought at an average price of $298.50 per share, with a total value of $9,850,500.00. The disclosure for this purchase can be found here. Company insiders own 22.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Tesla in the first quarter worth about $299,000. Ashburton Jersey Ltd purchased a new position in Tesla in the first quarter worth about $324,000. Trilogy Capital Inc. purchased a new position in Tesla in the first quarter worth about $241,000. Polar Asset Management Partners Inc. purchased a new position in Tesla in the first quarter worth about $9,980,000. Finally, Equitec Specialists LLC grew its position in Tesla by 600.0% in the first quarter. Equitec Specialists LLC now owns 1,000 shares of the electric vehicle producer’s stock worth $266,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.
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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