Tesla’s (TSLA) “Sell” Rating Reiterated at Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by equities researchers at Glj Research in a research note issued on Wednesday,Benzinga reports. They currently have a $24.86 price objective on the electric vehicle producer’s stock. Glj Research’s target price would suggest a potential downside of 93.02% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley boosted their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Benchmark assumed coverage on Tesla in a research note on Wednesday. They set a “buy” rating and a $475.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Robert W. Baird reduced their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $326.50.

Tesla Price Performance

NASDAQ:TSLA opened at $355.94 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.14 trillion, a P/E ratio of 174.48, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The business’s 50-day moving average is $407.25 and its 200 day moving average is $306.44.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the business. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter worth about $38,000. Delos Wealth Advisors LLC lifted its position in Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

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.