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

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “sell” rating reiterated by equities research analysts at Glj Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s price objective indicates a potential downside of 93.57% from the company’s current price.

TSLA has been the topic of a number of other reports. Phillip Securities lowered their price target on shares of Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Monday, February 2nd. Royal Bank Of Canada lowered their price target on shares of Tesla from $500.00 to $480.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. TD Cowen reduced their price objective on shares of Tesla from $519.00 to $490.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Truist Financial reduced their price objective on shares of Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Finally, Stifel Nicolaus set a $508.00 price objective on shares of Tesla in a research note on Thursday, January 29th. Eighteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $397.25.

View Our Latest Analysis on Tesla

Tesla Price Performance

NASDAQ:TSLA opened at $386.42 on Tuesday. Tesla has a 52 week low of $229.85 and a 52 week high of $498.83. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 357.80, a P/E/G ratio of 12.41 and a beta of 1.91. The firm’s 50-day simple moving average is $388.44 and its 200 day simple moving average is $421.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same period last year, the firm earned $0.73 earnings per share. Tesla’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla will post 1.37 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the completion of the transaction, the director directly owned 33,860 shares of the company’s stock, valued at $12,166,913.80. This trade represents a 43.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,804 shares of company stock valued at $20,865,598 in the last three months. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently modified their holdings of the stock. Networth Advisors LLC bought a new stake in shares of Tesla during the fourth quarter worth $26,000. Davidson Capital Management Inc. increased its stake in shares of Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares during the period. Turning Point Benefit Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $30,000. Manning & Napier Advisors LLC acquired a new position in shares of Tesla in the third quarter valued at approximately $29,000. Finally, Prism Advisors Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $30,000. Institutional investors own 66.20% of the company’s stock.

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About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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