Tesla (TSLA) Given Sell Rating at Cowen

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by equities researchers at Cowen in a research note issued on Friday.

A number of other brokerages also recently weighed in on TSLA. Zacks Investment Research downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 price objective on the stock in a research report on Friday, October 13th. Barclays reaffirmed a “sell” rating on shares of Tesla in a research report on Sunday, October 15th. Oppenheimer reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $430.00 price objective on shares of Tesla in a research report on Friday, October 6th. Eleven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. Tesla has a consensus rating of “Hold” and a consensus price target of $329.48.

Shares of Tesla (NASDAQ TSLA) traded down $2.59 during mid-day trading on Friday, reaching $344.57. The company had a trading volume of 5,684,900 shares, compared to its average volume of 6,288,333. Tesla has a 12 month low of $240.75 and a 12 month high of $389.61. The company has a market capitalization of $58,810.00, a P/E ratio of -40.25 and a beta of 0.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. sell-side analysts predict that Tesla will post -11.38 EPS for the current fiscal year.

In other news, VP Eric Branderiz sold 1,736 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the transaction, the vice president now directly owns 1,736 shares in the company, valued at $589,354.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total value of $723,335.10. Following the completion of the transaction, the director now owns 154,419 shares of the company’s stock, valued at $51,003,051.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,692 shares of company stock valued at $5,026,873. Company insiders own 23.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new position in shares of Tesla in the third quarter worth about $100,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Tesla in the third quarter worth about $106,000. First Personal Financial Services purchased a new position in shares of Tesla in the third quarter worth about $148,000. WFG Advisors LP raised its stake in shares of Tesla by 106.8% in the second quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock worth $165,000 after purchasing an additional 236 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Tesla by 21.6% in the second quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

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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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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