Vetr Inc. Lowers Tesla Inc. (TSLA) to Buy

Vetr cut shares of Tesla Inc. (NASDAQ:TSLA) from a strong-buy rating to a buy rating in a research report sent to investors on Monday, July 24th. They currently have $371.27 price target on the electric vehicle producer’s stock.

Several other analysts also recently commented on TSLA. Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $187.00 target price on shares of Tesla in a research note on Tuesday, March 28th. Robert W. Baird reiterated an outperform rating and set a $368.00 target price (up from $292.00) on shares of Tesla in a research note on Tuesday, March 28th. Cowen and Company reiterated an underperform rating and set a $155.00 target price on shares of Tesla in a research note on Wednesday, March 29th. Pacific Crest reiterated an equal weight rating on shares of Tesla in a research note on Thursday, March 30th. Finally, Guggenheim increased their target price on Tesla from $300.00 to $320.00 and gave the company a buy rating in a research note on Monday, April 3rd. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company. Tesla has an average rating of Hold and a consensus target price of $304.84.

Tesla (TSLA) opened at 356.91 on Monday. The stock’s market cap is $58.97 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The firm has a 50-day moving average price of $346.20 and a 200 day moving average price of $302.00. Tesla also saw some unusual options trading on Thursday. Traders acquired 92,133 put options on the company. This is an increase of approximately 119% compared to the typical volume of 42,045 put options.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 17.71% and a negative net margin of 7.61%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted ($1.06) EPS. The company’s revenue was up 119.6% compared to the same quarter last year. On average, analysts forecast that Tesla will post ($6.15) earnings per share for the current fiscal year.

In other Tesla news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. Insiders have sold 241,980 shares of company stock valued at $74,834,109 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Winfield Associates Inc. raised its position in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the period. Acropolis Investment Management LLC acquired a new position in shares of Tesla during the second quarter valued at about $122,000. North Star Investment Management Corp. raised its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 28 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Tesla during the first quarter valued at about $101,000. Institutional investors and hedge funds own 63.78% of the company’s stock.

Tesla Company Profile

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.

To view Vetr’s full report, visit Vetr’s official website.