Tesla (NASDAQ:TSLA) Reaches New 1-Year Low Following Analyst Downgrade

Tesla, Inc. (NASDAQ:TSLA) shares reached a new 52-week low during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft downgraded the stock from a buy rating to a hold rating. Deutsche Bank Aktiengesellschaft now has a $123.00 price target on the stock, down from their previous price target of $189.00. Tesla traded as low as $148.70 and last traded at $149.85, with a volume of 21207353 shares. The stock had previously closed at $155.45.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler decreased their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. China Renaissance assumed coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Jefferies Financial Group decreased their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 target price on shares of Tesla in a research report on Wednesday, March 27th. Finally, Redburn Atlantic initiated coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target on the stock. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $194.70.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently modified their holdings of the company. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the third quarter valued at $27,000. MayTech Global Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at $30,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 3.6 %

The company has a market cap of $477.50 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 4.15 and a beta of 2.39. 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’s fifty day moving average price is $179.45 and its 200-day moving average price is $212.21.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share 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 return on equity of 16.62% and a net margin of 15.50%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company 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, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.