Tesla (NASDAQ:TSLA) Earns Hold Rating from Truist Financial

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reissued by equities research analysts at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They presently have a $162.00 target price on the electric vehicle producer’s stock. Truist Financial’s target price points to a potential downside of 29.95% from the stock’s current price.

A number of other equities research analysts have also issued reports on TSLA. JPMorgan Chase & Co. reduced their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Wedbush restated an “outperform” rating and issued a $275.00 price target on shares of Tesla in a report on Friday, June 14th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday. Finally, HSBC decreased their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $187.57.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $231.26 on Wednesday. The business’s 50 day simple moving average is $179.16 and its 200-day simple moving average is $191.09. The firm has a market capitalization of $737.53 billion, a price-to-earnings ratio of 59.00, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, equities analysts forecast that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the business. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter worth about $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. grew its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.