Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a note issued to investors on Friday, TipRanks reports.
A number of other research analysts also recently weighed in on the company. Morgan Stanley restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Wednesday. Wedbush restated a “hold” rating and issued a $230.00 price target on shares of Tesla in a research note on Wednesday. BidaskClub upgraded Tesla from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Roth Capital upgraded Tesla from a “neutral” rating to a “buy” rating and set a $238.00 price target for the company in a research note on Monday. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $396.00 price target on shares of Tesla in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $292.12.
Shares of Tesla stock opened at $211.70 on Friday. Tesla has a 52-week low of $176.99 and a 52-week high of $387.46. The company has a market capitalization of $36.35 billion, a P/E ratio of -37.01 and a beta of 0.49. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The firm’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.35) earnings per share. Research analysts forecast that Tesla will post -4.64 earnings per share for the current year.
In related news, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $267.50, for a total value of $4,012,500.00. Following the completion of the sale, the insider now directly owns 306,748 shares in the company, valued at approximately $82,055,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $275.92, for a total value of $4,629,937.60. Following the completion of the sale, the director now owns 8,728 shares of the company’s stock, valued at $2,408,229.76. The disclosure for this sale can be found here. Insiders sold a total of 134,086 shares of company stock valued at $29,968,066 over the last 90 days. 22.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank bought a new stake in Tesla in the 4th quarter valued at $470,949,000. Jennison Associates LLC raised its holdings in Tesla by 10.5% in the 4th quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after acquiring an additional 505,076 shares in the last quarter. ARK Investment Management LLC raised its holdings in Tesla by 82.0% in the 1st quarter. ARK Investment Management LLC now owns 753,850 shares of the electric vehicle producer’s stock valued at $210,972,000 after acquiring an additional 339,743 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Tesla by 200.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 481,122 shares of the electric vehicle producer’s stock valued at $134,646,000 after acquiring an additional 321,112 shares in the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. acquired a new position in Tesla in the 4th quarter valued at $79,472,000. Institutional investors and hedge funds own 55.69% 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, 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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