Tesla (NASDAQ:TSLA) Lowered to “Sell” at ValuEngine

Tesla (NASDAQ:TSLA) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, April 2nd.

Several other analysts also recently commented on the stock. Vetr downgraded shares of Tesla from a “sell” rating to a “strong sell” rating and set a $283.06 target price on the stock. in a report on Monday, December 11th. Citigroup started coverage on shares of Tesla in a report on Tuesday, February 13th. They set a “buy” rating and a $425.00 target price on the stock. BidaskClub upgraded shares of Tesla from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 12th. UBS lifted their price objective on shares of Tesla to $365.00 and gave the company a “hold” rating in a report on Thursday, February 8th. Finally, Nomura reissued a “buy” rating and issued a $420.00 target price on shares of Tesla in a research note on Thursday, March 29th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Tesla presently has an average rating of “Hold” and a consensus target price of $304.44.

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Shares of NASDAQ TSLA traded down $3.52 during mid-day trading on Monday, hitting $287.69. The company’s stock had a trading volume of 6,865,981 shares, compared to its average volume of 7,329,708. The firm has a market capitalization of $50,733.40, a PE ratio of -25.06 and a beta of 1.19. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.80. Tesla has a one year low of $244.59 and a one year high of $389.61.



Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 33.08%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm earned ($0.69) EPS. The company’s revenue for the quarter was up 43.9% on a year-over-year basis. equities research analysts anticipate that Tesla will post -15.15 earnings per share for the current fiscal year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $300.00, for a total transaction of $562,500.00. Following the transaction, the director now directly owns 150,208 shares in the company, valued at approximately $45,062,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eric Branderiz sold 801 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now owns 1,287 shares in the company, valued at $456,344.46. The disclosure for this sale can be found here. Insiders sold 5,529 shares of company stock worth $1,786,841 over the last quarter. 23.10% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Tesla by 20.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after buying an additional 155 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Tesla by 0.7% during the third quarter. First Republic Investment Management Inc. now owns 23,373 shares of the electric vehicle producer’s stock worth $7,972,000 after purchasing an additional 161 shares during the period. Parallel Advisors LLC raised its position in shares of Tesla by 12.7% during the third quarter. Parallel Advisors LLC now owns 1,438 shares of the electric vehicle producer’s stock worth $454,000 after purchasing an additional 162 shares during the period. Catawba Capital Management VA raised its position in shares of Tesla by 6.0% during the fourth quarter. Catawba Capital Management VA now owns 2,935 shares of the electric vehicle producer’s stock worth $914,000 after purchasing an additional 165 shares during the period. Finally, Essex Financial Services Inc. raised its position in shares of Tesla by 4.9% during the fourth quarter. Essex Financial Services Inc. now owns 3,549 shares of the electric vehicle producer’s stock worth $1,105,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 58.19% of the company’s stock.

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Tesla Company Profile

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

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

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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