Tesla (NASDAQ:TSLA) Given Sell Rating at Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by Glj Research in a report issued on Thursday, Benzinga reports. They currently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s price target suggests a potential downside of 90.26% from the stock’s previous close.

TSLA has been the topic of a number of other reports. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. KGI Securities reiterated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $209.90.

Tesla Stock Down 0.7 %

NASDAQ TSLA traded down $1.81 during mid-day trading on Thursday, hitting $255.21. The company’s stock had a trading volume of 41,314,684 shares, compared to its average volume of 95,805,375. The firm has a market capitalization of $815.30 billion, a price-to-earnings ratio of 65.12, a PEG ratio of 6.80 and a beta of 2.29. The company’s 50 day simple moving average is $221.37 and its 200 day simple moving average is $197.56. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Analysts anticipate that Tesla will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last three months. Insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kessler Investment Group LLC raised its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.