Tesla (NASDAQ:TSLA) Earns Reduce Rating from HSBC

HSBC reaffirmed their reduce rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Thursday,Benzinga reports. HSBC currently has a $120.00 price target on the electric vehicle producer’s stock.

A number of other research analysts have also weighed in on TSLA. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Friday, June 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $301.24.

Tesla Stock Down 0.7%

Shares of TSLA opened at $313.56 on Thursday. Tesla has a 1 year low of $182.00 and a 1 year high of $488.54. The company’s 50-day simple moving average is $320.36 and its 200-day simple moving average is $327.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market capitalization of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last quarter. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. True Wealth Design LLC grew its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter valued at $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.