Tesla (NASDAQ:TSLA) Receives “Sell” Rating from Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by research analysts at Glj Research in a report released on Friday,Benzinga reports. They currently have a $24.86 target price on the electric vehicle producer’s stock. Glj Research’s price objective points to a potential downside of 93.45% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Robert W. Baird increased their target price on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $279.45.

Tesla Stock Performance

NASDAQ TSLA opened at $379.28 on Friday. The company’s fifty day moving average is $359.54 and its two-hundred day moving average is $271.59. The firm has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 103.91, a P/E/G 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 has a 52-week low of $138.80 and a 52-week high of $488.54.

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

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,886 shares of company stock worth $169,393,831. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new position in Tesla during the 3rd quarter worth about $29,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third 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 period. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during 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 in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter worth approximately $35,000. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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.