Tesla Inc (TSLA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Tesla Inc (NASDAQ:TSLA) have received an average rating of “Hold” from the thirty-six brokerages that are presently covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $334.25.

Several brokerages have issued reports on TSLA. ValuEngine upgraded Tesla from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a “hold” rating in a report on Monday, November 13th. Barclays reiterated a “sell” rating on shares of Tesla in a report on Sunday, October 15th. Royal Bank of Canada dropped their target price on Tesla from $345.00 to $340.00 and set a “sector perform” rating on the stock in a report on Thursday, November 2nd. Finally, Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $282.88 target price on the stock in a report on Thursday, November 2nd.

In related news, VP Eric Branderiz sold 1,736 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the completion of the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at $589,354.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $334.87, for a total value of $334,870.00. Following the sale, the vice president now directly owns 20,128 shares of the company’s stock, valued at $6,740,263.36. The disclosure for this sale can be found here. Insiders have sold 15,692 shares of company stock valued at $5,026,873 over the last ninety days. 23.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harfst & Associates Inc. increased its position in shares of Tesla by 4.9% during the second quarter. Harfst & Associates Inc. now owns 984 shares of the electric vehicle producer’s stock valued at $355,000 after acquiring an additional 46 shares during the last quarter. Rikoon Group LLC increased its position in shares of Tesla by 7.8% during the second quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock valued at $249,000 after acquiring an additional 50 shares during the last quarter. Linscomb & Williams Inc. increased its position in shares of Tesla by 1.4% during the second quarter. Linscomb & Williams Inc. now owns 6,630 shares of the electric vehicle producer’s stock valued at $2,397,000 after acquiring an additional 90 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Tesla by 21.6% during the second quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock valued at $193,000 after acquiring an additional 95 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Tesla by 2.3% during the second quarter. Nordea Investment Management AB now owns 4,718 shares of the electric vehicle producer’s stock valued at $1,706,000 after acquiring an additional 106 shares during the last quarter. 57.13% of the stock is owned by institutional investors.

Tesla (TSLA) opened at $350.02 on Friday. The stock has a market capitalization of $58,830.00, a P/E ratio of -40.89 and a beta of 0.94. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla has a fifty-two week low of $242.01 and a fifty-two week high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. equities analysts expect that Tesla will post -11.38 EPS for the current year.

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About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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