Tesla (NASDAQ:TSLA) Earns Sell Rating from Glj Research

Glj Research restated their sell rating on shares of Tesla (NASDAQ:TSLA) in a report published on Friday,Benzinga reports. They currently have a $24.86 target price on the electric vehicle producer’s stock.

Other analysts have also issued reports about the stock. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Cantor Fitzgerald raised their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Finally, KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $283.39.

Tesla Stock Performance

Tesla stock opened at $410.44 on Friday. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The company’s 50-day moving average is $359.54 and its 200 day moving average is $271.59. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts forecast that Tesla will post 1.99 EPS for the current year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock worth $169,393,831 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter valued at $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth about $26,000. Finally, Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.