Tesla (NASDAQ:TSLA) Rating Reiterated by Wedbush

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $315.00 price objective on the electric vehicle producer’s stock. Wedbush’s price objective points to a potential upside of 66.79% from the stock’s previous close.

Several other brokerages have also recently issued reports on TSLA. The Goldman Sachs Group decreased their price objective on Tesla from $255.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Barclays reduced their price target on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Thursday, January 25th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, January 2nd. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $221.86.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Up 0.8 %

Tesla stock opened at $188.86 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $231.85 and its 200-day simple moving average is $240.27. The firm has a market capitalization of $601.48 billion, a P/E ratio of 43.82, a P/E/G ratio of 2.99 and a beta of 2.31. Tesla has a twelve month low of $152.37 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. As a group, equities analysts expect that Tesla will post 2.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 104,716 shares in the company, valued at $26,179,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 1,049 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total transaction of $256,312.66. Following the transaction, the senior vice president now directly owns 61,124 shares in the company, valued at $14,935,038.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 104,716 shares in the company, valued at $26,179,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,222 shares of company stock worth $2,298,583. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pachira Investments Inc. acquired a new stake in Tesla in the second quarter valued at $209,000. Sigma Planning Corp grew its holdings in shares of Tesla by 10.4% during the second quarter. Sigma Planning Corp now owns 76,219 shares of the electric vehicle producer’s stock worth $19,952,000 after purchasing an additional 7,154 shares during the last quarter. Deuterium Capital Management LLC purchased a new position in shares of Tesla during the second quarter worth about $1,314,000. Nadler Financial Group Inc. grew its holdings in shares of Tesla by 0.5% during the second quarter. Nadler Financial Group Inc. now owns 10,613 shares of the electric vehicle producer’s stock worth $2,778,000 after purchasing an additional 50 shares during the last quarter. Finally, James J. Burns & Company LLC grew its holdings in shares of Tesla by 1.6% during the second quarter. James J. Burns & Company LLC now owns 4,531 shares of the electric vehicle producer’s stock worth $1,186,000 after purchasing an additional 71 shares during the last quarter. 41.87% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.

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