Tesla (NASDAQ:TSLA) Downgraded by BidaskClub

BidaskClub downgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently commented on the stock. Piper Jaffray Companies reiterated an overweight rating and set a $396.00 price target on shares of Tesla in a research report on Friday, June 7th. Wedbush reiterated a hold rating and set a $230.00 price target on shares of Tesla in a research report on Thursday, July 25th. Needham & Company LLC restated a sell rating on shares of Tesla in a report on Sunday, July 7th. Sanford C. Bernstein set a $325.00 price objective on shares of Tesla and gave the company a neutral rating in a report on Thursday, April 25th. Finally, Barclays restated an underweight rating and set a $150.00 price objective on shares of Tesla in a report on Thursday, July 25th. Eighteen investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Tesla has a consensus rating of Hold and an average target price of $269.53.

Shares of NASDAQ:TSLA opened at $222.15 on Tuesday. Tesla has a one year low of $176.99 and a one year high of $379.49. The company has a 50 day moving average of $236.58 and a 200-day moving average of $250.18. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of -38.84 and a beta of 0.60.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the firm earned ($3.06) EPS. The firm’s quarterly revenue was up 58.7% compared to the same quarter last year. Equities research analysts anticipate that Tesla will post -7.51 earnings per share for the current year.

In other news, CFO Zachary Kirkhorn sold 150 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $224.00, for a total value of $33,600.00. Following the completion of the transaction, the chief financial officer now owns 9,812 shares in the company, valued at $2,197,888. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson purchased 360 shares of Tesla stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $221.71 per share, with a total value of $79,815.60. Following the acquisition, the director now directly owns 360 shares of the company’s stock, valued at $79,815.60. The disclosure for this purchase can be found here. Insiders sold 79,066 shares of company stock valued at $15,819,400 in the last quarter. Corporate insiders own 24.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Natixis bought a new stake in shares of Tesla in the second quarter worth $4,643,000. Harvest Fund Management Co. Ltd lifted its position in shares of Tesla by 6.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 6,416 shares of the electric vehicle producer’s stock worth $1,434,000 after purchasing an additional 373 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Tesla by 67.2% in the second quarter. Primecap Management Co. CA now owns 1,526,940 shares of the electric vehicle producer’s stock worth $341,210,000 after purchasing an additional 613,525 shares in the last quarter. Steadfast Capital Management LP bought a new stake in shares of Tesla in the second quarter worth $55,536,000. Finally, Stamos Capital Partners L.P. raised its position in Tesla by 62.0% during the second quarter. Stamos Capital Partners L.P. now owns 4,200 shares of the electric vehicle producer’s stock worth $954,000 after acquiring an additional 1,608 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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