Scotia Capital Inc. increased its stake in shares of Tesla Inc (NASDAQ:TSLA) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,739 shares of the electric vehicle producer’s stock after acquiring an additional 610 shares during the quarter. Scotia Capital Inc.’s holdings in Tesla were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC acquired a new stake in Tesla during the third quarter worth $100,000. Truewealth LLC acquired a new stake in Tesla during the fourth quarter worth $102,000. Mckinley Capital Management LLC Delaware acquired a new stake in Tesla during the third quarter worth $106,000. FDx Advisors Inc. acquired a new stake in Tesla during the fourth quarter worth $203,000. Finally, Jarislowsky Fraser Ltd acquired a new stake in Tesla during the third quarter worth $204,000. 57.83% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on TSLA shares. Vetr downgraded shares of Tesla from a “sell” rating to a “strong sell” rating and set a $283.06 price target on the stock. in a research note on Monday, December 11th. Global Equities Research reiterated a “buy” rating and set a $485.00 price target on shares of Tesla in a research note on Wednesday, November 29th. Citigroup started coverage on shares of Tesla in a research note on Tuesday, February 13th. They set a “buy” rating and a $425.00 price target on the stock. KeyCorp reiterated a “hold” rating on shares of Tesla in a research note on Friday, November 10th. Finally, BidaskClub upgraded shares of Tesla from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th. Twelve research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $321.86.
Tesla Inc (NASDAQ TSLA) opened at $327.17 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.56. Tesla Inc has a 52-week low of $242.78 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.12) by $0.08. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. Tesla had a negative net margin of 16.68% and a negative return on equity of 33.08%. The firm’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.69) EPS. sell-side analysts forecast that Tesla Inc will post -15.15 earnings per share for the current year.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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