Tesla (NASDAQ:TSLA) Upgraded by Roth Mkm to Buy Rating

Tesla (NASDAQ:TSLA) was upgraded by investment analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat.com reports. The firm currently has a $380.00 price target on the electric vehicle producer’s stock, up from their previous price target of $85.00. Roth Mkm’s target price suggests a potential upside of 8.13% from the stock’s current price.

A number of other brokerages also recently weighed in on TSLA. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Royal Bank of Canada raised their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group upped their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $243.75.

Tesla Price Performance

TSLA opened at $351.42 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.13 trillion, a PE ratio of 96.28, a price-to-earnings-growth ratio of 11.60 and a beta of 2.36. The stock’s 50 day moving average price is $278.63 and its 200-day moving average price is $235.10. Tesla has a 52-week low of $138.80 and a 52-week high of $361.93.

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

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter valued at approximately $29,000. Clean Yield Group boosted its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at about $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $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.