Tesla (NASDAQ:TSLA) Price Target Cut to $130.00 by Analysts at HSBC

Tesla (NASDAQ:TSLA) had its price target lowered by HSBC from $165.00 to $130.00 in a research report released on Thursday, Marketbeat.com reports. HSBC currently has a reduce rating on the electric vehicle producer’s stock.

A number of other brokerages have also weighed in on TSLA. Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Finally, Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $319.12.

Tesla Price Performance

Tesla stock opened at $273.13 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day simple moving average of $324.59 and a 200-day simple moving average of $321.35. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $878.53 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts predict that Tesla will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Milestone Asset Management Group LLC purchased a new stake in Tesla during the fourth quarter valued at about $1,186,000. Avant Financial Advisors LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $519,000. Fire Capital Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth about $5,424,000. Fulcrum Equity Management increased its position in Tesla by 4.7% during the 4th quarter. Fulcrum Equity Management now owns 1,103 shares of the electric vehicle producer’s stock worth $445,000 after purchasing an additional 50 shares in the last quarter. Finally, M1 Capital Management LLC purchased a new position in Tesla in the fourth quarter valued at approximately $863,000. 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.