Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $230.00 price objective on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 22.76% from the stock’s previous close.

TSLA has been the subject of a number of other research reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. UBS Group dropped their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Truist Financial decreased their target price on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Wednesday, April 24th. Finally, China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $187.30.

Tesla Stock Performance

Shares of TSLA stock opened at $187.35 on Monday. The stock has a fifty day moving average price of $175.02 and a 200 day moving average price of $192.25. The stock has a market cap of $597.50 billion, a PE ratio of 47.79, a P/E/G ratio of 4.54 and a beta of 2.32. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts forecast that Tesla will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently modified their holdings of the stock. Wyrmwood Management LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new stake in Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. grew its position in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is 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.