KeyCorp Reaffirms “Hold” Rating for Tesla (TSLA)

KeyCorp reissued their hold rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Wednesday.

Several other equities analysts also recently weighed in on the company. Vetr downgraded Tesla from a sell rating to a strong sell rating and set a $283.06 target price on the stock. in a research report on Monday, December 11th. Citigroup started coverage on Tesla in a research report on Tuesday, February 13th. They set a buy rating and a $425.00 target price on the stock. BidaskClub upgraded Tesla from a strong sell rating to a sell rating in a research report on Tuesday, December 12th. UBS lifted their target price on Tesla to $365.00 and gave the company a hold rating in a research report on Thursday, February 8th. Finally, Cascend Securities downgraded Tesla from a hold rating to a sell rating and set a $250.00 target price on the stock. in a research report on Tuesday, December 5th. Thirteen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Tesla currently has an average rating of Hold and an average price target of $313.57.

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NASDAQ TSLA opened at $299.30 on Wednesday. The firm has a market cap of $48,469.88, a P/E ratio of -26.07 and a beta of 1.19. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.80. Tesla has a fifty-two week low of $244.59 and a fifty-two week high of $389.61.

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

In other Tesla news, VP Eric Branderiz sold 452 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was 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 can be accessed through this hyperlink. Also, VP John Douglas Field sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $321.41, for a total value of $321,410.00. Following the sale, the vice president now directly owns 20,561 shares in the company, valued at $6,608,511.01. The disclosure for this sale can be found here. Insiders sold 4,654 shares of company stock worth $1,559,211 over the last quarter. 23.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its stake in Tesla by 2.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,130 shares of the electric vehicle producer’s stock worth $5,333,000 after acquiring an additional 455 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Tesla by 24.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,660 shares of the electric vehicle producer’s stock worth $517,000 after acquiring an additional 327 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Tesla by 10.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 22,819 shares of the electric vehicle producer’s stock worth $7,105,000 after acquiring an additional 2,109 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Tesla by 20.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after acquiring an additional 155 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Tesla by 8.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 73,674 shares of the electric vehicle producer’s stock worth $22,938,000 after acquiring an additional 5,850 shares during the last quarter. 58.19% of the stock is currently owned by institutional investors.

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Tesla Company Profile

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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