Glj Research Reaffirms “Sell” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by Glj Research in a research report issued on Friday, Benzinga reports.

A number of other brokerages have also commented on TSLA. Robert W. Baird set a $475.00 target price on Tesla in a report on Monday, July 27th. Morgan Stanley raised Tesla from a “reduce” rating to an “overweight” rating in a report on Monday, October 26th. Monness Crespi & Hardt initiated coverage on Tesla in a report on Monday, October 26th. They set a “buy” rating on the stock. HSBC reaffirmed a “reduce” rating and set a $157.00 target price on shares of Tesla in a report on Monday, October 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $414.50.

Tesla Price Performance

Shares of TSLA opened at $397.45 on Friday. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 436.76, a price-to-earnings-growth ratio of 24.21 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. Tesla has a one year low of $297.38 and a one year high of $498.83. The stock’s fifty day moving average is $374.47 and its 200-day moving average is $383.25.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. Equities analysts anticipate that Tesla will post 0.67 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the completion of the sale, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of the business. Cadia Private Client LLC lifted its holdings in shares of Tesla by 3.4% during the third quarter. Cadia Private Client LLC now owns 4,372 shares of the electric vehicle producer’s stock worth $1,551,000 after buying an additional 145 shares during the last quarter. Trivium Point Advisory LLC lifted its holdings in shares of Tesla by 4.6% during the third quarter. Trivium Point Advisory LLC now owns 23,960 shares of the electric vehicle producer’s stock worth $8,501,000 after buying an additional 1,043 shares during the last quarter. Retirement Planning Group LLC NY lifted its holdings in shares of Tesla by 25.9% during the third quarter. Retirement Planning Group LLC NY now owns 898 shares of the electric vehicle producer’s stock worth $319,000 after buying an additional 185 shares during the last quarter. Snowwater Investment Partners LLC lifted its holdings in shares of Tesla by 50.0% during the third quarter. Snowwater Investment Partners LLC now owns 993 shares of the electric vehicle producer’s stock worth $352,000 after buying an additional 331 shares during the last quarter. Finally, Xcelsior Advisor Partners LLC lifted its holdings in shares of Tesla by 47.6% during the third quarter. Xcelsior Advisor Partners LLC now owns 17,907 shares of the electric vehicle producer’s stock worth $6,354,000 after buying an additional 5,777 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Top Tesla Stories

Investors following TSLA have been watching these stories:

• Positive Sentiment: Tesla’s autonomy and software growth story received a boost from Finland’s provisional approval of its driver-assistance system. Broader EU approval is still pending, but wider access could expand the potential market for the technology. Tesla FSD Gains Ground in Europe
• Negative Sentiment: A potential all-stock merger could raise concerns about valuation, dilution and how the two businesses would be combined. Those risks matter given Tesla’s already high valuation and recent commentary questioning whether its share price is justified. Tesla Overvaluation Rating Downgrade
• Negative Sentiment: Musk’s proposed chip-building ambitions were described as potentially costing as much as $1 trillion, raising questions about whether Tesla’s cash flow could support the investment without added financial pressure. Musk’s Chip Plan Is “Gonna Cost a Trillion Dollars.”

Tesla Company Profile

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.