Tesla (TSLA) Lowered to “Buy” at Vetr

Vetr lowered shares of Tesla (NASDAQ:TSLA) from a strong-buy rating to a buy rating in a research report report published on Thursday. The firm currently has $327.47 target price on the electric vehicle producer’s stock.

Several other equities analysts have also commented on the stock. Citigroup initiated coverage on shares of Tesla in a research report on Tuesday, February 13th. They set a buy rating and a $425.00 price objective for the company. BidaskClub upgraded shares of Tesla from a strong sell rating to a sell rating in a research report on Tuesday, December 12th. UBS increased their price objective on shares of Tesla to $365.00 and gave the company a hold rating in a research report on Thursday, February 8th. ValuEngine upgraded shares of Tesla from a sell rating to a hold rating in a research report on Sunday, December 31st. Finally, Bank of America set a $155.00 price objective on shares of Tesla and gave the company a sell rating in a research report on Wednesday, January 3rd. Thirteen equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $313.57.

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Shares of NASDAQ:TSLA traded down $4.44 during midday trading on Thursday, reaching $301.28. 9,808,765 shares of the company were exchanged, compared to its average volume of 7,177,028. Tesla has a one year low of $244.59 and a one year high of $389.61. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.56 and a current ratio of 0.86. The firm has a market cap of $48,469.88, a price-to-earnings ratio of -26.25 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 33.08%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned ($0.69) earnings per share. Tesla’s quarterly revenue was up 43.9% compared to the same quarter last year. research analysts predict that Tesla will post -15.15 earnings per share for the current year.

In other Tesla news, VP Eric Branderiz sold 452 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $325.44, for a total transaction of $147,098.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $321.41, for a total transaction of $321,410.00. Following the transaction, the vice president now owns 20,561 shares in the company, valued at $6,608,511.01. The disclosure for this sale can be found here. Insiders sold a total of 4,654 shares of company stock worth $1,559,211 in the last ninety days. 23.10% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of TSLA. Jennison Associates LLC grew its holdings in Tesla by 17.1% during the 4th quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock worth $1,053,158,000 after acquiring an additional 494,761 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Tesla by 126.6% during the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after acquiring an additional 305,596 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Tesla by 77.1% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock worth $197,922,000 after acquiring an additional 276,781 shares in the last quarter. Quantitative Investment Management LLC bought a new position in Tesla during the 4th quarter worth about $30,045,000. Finally, ARK Investment Management LLC grew its holdings in Tesla by 122.1% during the 4th quarter. ARK Investment Management LLC now owns 140,900 shares of the electric vehicle producer’s stock worth $43,869,000 after acquiring an additional 77,471 shares in the last quarter. Institutional investors own 58.19% of the company’s stock.

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About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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