Tesla (NASDAQ:TSLA) Price Target Cut to $120.00 by Analysts at HSBC

Tesla (NASDAQ:TSLA) had its price target lowered by HSBC from $138.00 to $120.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a reduce rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Wells Fargo & Company cut their price objective on Tesla from $125.00 to $120.00 and set an underweight rating for the company in a research note on Friday, April 12th. Redburn Atlantic initiated coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a sell rating and a $170.00 target price for the company. Barclays reduced their target price on shares of Tesla from $225.00 to $180.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Sanford C. Bernstein reduced their target price on shares of Tesla from $150.00 to $120.00 and set an underperform rating for the company in a report on Tuesday, March 26th. Finally, Bank of America raised shares of Tesla from a neutral rating to a buy rating and set a $220.00 target price for the company in a report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of Hold and an average price target of $186.70.

Tesla Trading Down 1.1 %

Shares of TSLA stock opened at $168.29 on Wednesday. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a fifty day moving average price of $175.04 and a 200-day moving average price of $207.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. The company has a market cap of $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Tesla will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. White Pine Investment CO purchased a new stake in Tesla during the 1st quarter valued at $225,000. Vigilare Wealth Management increased its stake in Tesla by 13.6% in the first quarter. Vigilare Wealth Management now owns 1,849 shares of the electric vehicle producer’s stock worth $325,000 after purchasing an additional 222 shares during the period. Conning Inc. increased its stake in Tesla by 3.2% in the first quarter. Conning Inc. now owns 16,324 shares of the electric vehicle producer’s stock worth $2,870,000 after purchasing an additional 499 shares during the period. Austin Asset Management Co Inc increased its stake in Tesla by 7.0% in the first quarter. Austin Asset Management Co Inc now owns 1,947 shares of the electric vehicle producer’s stock worth $342,000 after purchasing an additional 127 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Tesla by 4.8% in the first quarter. Pinnacle Associates Ltd. now owns 64,063 shares of the electric vehicle producer’s stock worth $11,262,000 after purchasing an additional 2,927 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.