Tesla Inc. (TSLA) Upgraded to “Sell” by Vetr Inc.

Vetr upgraded shares of Tesla Inc. (NASDAQ:TSLA) from a strong sell rating to a sell rating in a research note released on Wednesday morning. The brokerage currently has $341.74 price objective on the electric vehicle producer’s stock.

A number of other equities analysts have also recently issued reports on TSLA. Robert W. Baird restated an outperform rating and set a $411.00 target price (up previously from $368.00) on shares of Tesla in a research report on Monday, August 14th. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a neutral rating in a research report on Wednesday. Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Tesla in a report on Wednesday, August 9th. Guggenheim reiterated a buy rating and set a $430.00 price target on shares of Tesla in a report on Thursday, August 10th. Finally, Jefferies Group LLC assumed coverage on shares of Tesla in a report on Tuesday, September 19th. They set an underperform rating and a $280.00 price target for the company. They noted that the move was a valuation call. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. Tesla presently has an average rating of Hold and an average price target of $314.30.

Shares of Tesla (NASDAQ:TSLA) opened at 351.09 on Wednesday. The stock’s market cap is $58.59 billion. The stock has a 50 day moving average of $354.97 and a 200 day moving average of $325.99. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.06) earnings per share. Equities research analysts forecast that Tesla will post ($6.29) EPS for the current year.

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In other Tesla news, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at $12,290,739.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock worth $18,481,047 over the last ninety days. 23.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TSLA. Pittenger & Anderson Inc. increased its stake in Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after purchasing an additional 50 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Tesla by 1,213.3% during the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after purchasing an additional 364 shares during the last quarter. Winfield Associates Inc. increased its stake in Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after purchasing an additional 150 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in Tesla during the second quarter valued at $122,000. Finally, North Star Investment Management Corp. increased its stake in Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 56.63% of the company’s stock.

About Tesla

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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