Tesla (NASDAQ:TSLA) Shares Gap Down After Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLAGet Free Report) shares gapped down prior to trading on Tuesday after Daiwa Capital Markets downgraded the stock from an outperform rating to a neutral rating. The stock had previously closed at $181.06, but opened at $177.21. Daiwa Capital Markets now has a $195.00 price target on the stock, down from their previous price target of $245.00. Tesla shares last traded at $184.75, with a volume of 24,857,716 shares changing hands.

Several other research analysts have also recently weighed in on TSLA. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Jefferies Financial Group decreased their target price on Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, January 29th. The Goldman Sachs Group decreased their price target on Tesla from $255.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Truist Financial decreased their price target on Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a research report on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $219.89.

Read Our Latest Stock Report on TSLA

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 173 shares of Tesla stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total transaction of $42,270.82. Following the sale, the chief financial officer now owns 104,930 shares of the company’s stock, valued at approximately $25,638,596.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 173 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $42,270.82. Following the sale, the chief financial officer now owns 104,930 shares of the company’s stock, valued at approximately $25,638,596.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 1,049 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the sale, the senior vice president now directly owns 61,124 shares in the company, valued at approximately $14,935,038.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,222 shares of company stock valued at $2,298,583. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors have recently bought and sold shares of TSLA. Contravisory Investment Management Inc. acquired a new position in Tesla in the third quarter worth $25,000. Wyrmwood Management LLC acquired a new position in Tesla in the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter worth $25,000. Halpern Financial Inc. lifted its stake in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Finally, Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the third quarter valued at $27,000. Institutional investors and hedge funds own 41.87% of the company’s stock.

Tesla Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market cap of $597.40 billion, a price-to-earnings ratio of 43.52, a price-to-earnings-growth ratio of 2.80 and a beta of 2.43. The firm has a 50 day moving average price of $227.44 and a 200-day moving average price of $237.36.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.89 EPS for the current fiscal year.

Tesla Company Profile

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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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