Tesla (NASDAQ:TSLA) Earns Reduce Rating from HSBC

Tesla (NASDAQ:TSLA)‘s stock had its “reduce” rating reiterated by analysts at HSBC in a research report issued on Friday, Benzinga reports. They currently have a $124.00 price objective on the electric vehicle producer’s stock. HSBC’s price objective would indicate a potential downside of 43.07% from the stock’s current price.

Several other brokerages have also commented on TSLA. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Mizuho increased their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Guggenheim increased their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Trading Down 8.8 %

Shares of TSLA stock opened at $217.80 on Friday. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $225.43 and a 200-day moving average of $203.79. The stock has a market cap of $695.79 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 6.48 and a beta of 2.29.

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

Insider Transactions at Tesla

In related 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction 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 $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last three months. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter worth about $25,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in 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 increased its holdings in shares of Tesla by 168.8% in 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 during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter worth about $26,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors 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.