Tesla Inc (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Saturday. They presently have a $305.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s target price would indicate a potential downside of 0.20% from the company’s current price.
A number of other analysts also recently commented on TSLA. Vetr downgraded Tesla from a “buy” rating to a “hold” rating and set a $200.43 price target for the company. in a research report on Monday, November 28th. Berenberg Bank reaffirmed a “hold” rating and set a $193.00 price target on shares of Tesla in a research report on Monday, November 28th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Tesla in a research report on Wednesday, November 30th. Cowen and Company reaffirmed an “underperform” rating and set a $155.00 price target (down from $160.00) on shares of Tesla in a research report on Sunday, December 4th. Finally, Global Equities Research reaffirmed an “overweight” rating and set a $385.00 price target on shares of Tesla in a research report on Tuesday, December 6th. Eight analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Tesla presently has an average rating of “Hold” and an average target price of $266.42.
Tesla (NASDAQ:TSLA) traded up 1.02% during mid-day trading on Friday, reaching $305.60. The company’s stock had a trading volume of 4,496,612 shares. The company’s market cap is $49.41 billion. The stock’s 50 day moving average is $274.79 and its 200 day moving average is $232.49. Tesla has a 12 month low of $178.19 and a 12 month high of $313.73.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.43) by $0.26. The company earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. The business’s revenue for the quarter was up 88.2% compared to the same quarter last year. During the same period last year, the company earned ($0.87) earnings per share. Equities research analysts predict that Tesla will post ($1.63) EPS for the current year.
WARNING: “Tesla’s (TSLA) Overweight Rating Reiterated at Morgan Stanley” was originally published by BBNS and is the property of of BBNS. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://baseballnewssource.com/markets/tesla-inc-tsla-stock-rating-reaffirmed-by-morgan-stanley-2-updated-updated/525999.html.
In related news, VP John Douglas Field sold 500 shares of the business’s stock in a transaction dated Friday, April 7th. The stock was sold at an average price of $301.45, for a total transaction of $150,725.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Antonio J. Gracias sold 5,600 shares of the business’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $254.37, for a total value of $1,424,472.00. Following the transaction, the director now owns 5,600 shares in the company, valued at approximately $1,424,472. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,391 shares of company stock worth $4,399,594. Company insiders own 27.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock worth $4,711,950,000 after buying an additional 2,582,730 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock worth $2,839,843,000 after buying an additional 454,467 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth about $94,658,000. Renaissance Technologies LLC acquired a new position in shares of Tesla during the fourth quarter worth about $66,541,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Tesla by 578.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 281,004 shares of the electric vehicle producer’s stock worth $57,333,000 after buying an additional 239,600 shares in the last quarter. Institutional investors own 57.29% of the company’s stock.
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.
Receive News & Ratings for Tesla Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc and related companies with our FREE daily email newsletter.