Tesla’s (TSLA) “Hold” Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a $215.00 price target on the electric vehicle producer’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a hold rating on shares of Tesla in a research note on Wednesday, July 24th. Roth Mkm reaffirmed a neutral rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. China Renaissance raised Tesla from a hold rating to a buy rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Wells Fargo & Company reaffirmed an underweight rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Finally, HSBC upped their price target on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $204.21.

Tesla Trading Up 0.9 %

TSLA opened at $216.12 on Wednesday. The stock has a market cap of $690.43 billion, a PE ratio of 55.13, a PEG ratio of 5.22 and a beta of 2.31. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $215.14 and a 200-day moving average of $190.97. Tesla has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities research analysts predict that Tesla will post 1.79 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the stock. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter worth $37,000. Finally, Kessler Investment Group LLC increased its holdings in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. 66.20% of the stock is owned by institutional investors.

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.