Tesla (TSLA) Debt Trading 1% Lower

An issue of Tesla, Inc. (NASDAQ:TSLA) debt fell 1% against its face value during trading on Friday. The high-yield debt issue has a 5.3% coupon and is set to mature on August 15, 2025. The bonds in the issue are now trading at $89.00 and were trading at $87.50 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

Several research firms have recently issued reports on TSLA. BidaskClub raised Tesla from a “strong sell” rating to a “sell” rating in a report on Friday. ValuEngine lowered Tesla from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. KeyCorp reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 target price for the company. in a report on Thursday. Finally, Dougherty & Co upped their target price on Tesla from $340.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Thirteen investment 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 company has an average rating of “Hold” and an average target price of $313.57.

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NASDAQ:TSLA opened at $299.30 on Friday. The firm has a market cap of $51,642.20, a price-to-earnings ratio of -26.07 and a beta of 1.19. Tesla, Inc. has a 1 year low of $244.59 and a 1 year high of $389.61. 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.12) by $0.08. The firm 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%. The business’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.69) earnings per share. analysts predict that Tesla, Inc. will post -15.15 earnings per share for the current fiscal year.

In related news, VP Eric Branderiz sold 401 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $353.50, for a total value of $141,753.50. Following the sale, the vice president now owns 1,248 shares in the company, valued at $441,168. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 20,561 shares in the company, valued at approximately $6,608,511.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,654 shares of company stock worth $1,559,211. Company insiders own 23.10% of the company’s stock.

Several hedge funds have recently modified their holdings of TSLA. Nordea Investment Management AB raised its position in shares of Tesla by 4.5% in the third quarter. Nordea Investment Management AB now owns 4,931 shares of the electric vehicle producer’s stock worth $1,682,000 after buying an additional 213 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Tesla by 24.1% in the third quarter. Schroder Investment Management Group now owns 1,535 shares of the electric vehicle producer’s stock worth $521,000 after buying an additional 298 shares in the last quarter. BB&T Securities LLC raised its position in shares of Tesla by 23.9% in the third quarter. BB&T Securities LLC now owns 2,387 shares of the electric vehicle producer’s stock worth $814,000 after buying an additional 461 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tesla by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 102,250 shares of the electric vehicle producer’s stock worth $34,876,000 after buying an additional 1,938 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of Tesla by 0.7% in the third quarter. First Republic Investment Management Inc. now owns 23,373 shares of the electric vehicle producer’s stock worth $7,972,000 after buying an additional 161 shares in the last quarter. Institutional investors own 58.19% of the company’s stock.

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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.

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