Tesla Inc. (NASDAQ:TSLA) Coverage Initiated at Citigroup Inc.

Citigroup Inc. initiated coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a report published on Thursday, Marketbeat reports. The brokerage issued a neutral rating and a $357.00 price target on the electric vehicle producer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Vetr raised shares of Tesla from a buy rating to a strong-buy rating and set a $367.97 target price on the stock in a research note on Monday, July 17th. Royal Bank Of Canada reaffirmed a hold rating and set a $314.00 target price on shares of Tesla in a research note on Wednesday, July 12th. Cowen and Company reaffirmed an underperform rating and set a $155.00 target price on shares of Tesla in a research note on Thursday, July 6th. KeyCorp reaffirmed a hold rating on shares of Tesla in a research note on Wednesday, July 5th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $368.00 target price on shares of Tesla in a research note on Wednesday, July 5th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tesla currently has a consensus rating of Hold and a consensus price target of $296.39.

Shares of Tesla (NASDAQ:TSLA) opened at 328.40 on Thursday. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99. The stock’s market cap is $53.94 billion. The company’s 50-day moving average is $350.76 and its 200-day moving average is $295.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by $1.30. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.56 billion. Equities analysts expect that Tesla will post ($5.76) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/07/23/tesla-inc-nasdaqtsla-coverage-initiated-at-citigroup-inc.html.

In other Tesla news, Director Kimbal Musk sold 2,500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $315.67, for a total value of $789,175.00. Following the completion of the transaction, the director now owns 168,355 shares in the company, valued at $53,144,622.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total value of $33,582,071.00. The disclosure for this sale can be found here. Insiders sold 242,290 shares of company stock valued at $74,919,505 in the last quarter. 23.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares in the last quarter. Clarius Group LLC boosted its position in shares of Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock worth $1,287,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC boosted its position in shares of Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock worth $282,000 after buying an additional 20 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Tesla by 1.2% in the first quarter. Eqis Capital Management Inc. now owns 2,515 shares of the electric vehicle producer’s stock worth $700,000 after buying an additional 29 shares in the last quarter. Finally, Focused Wealth Management Inc boosted its position in shares of Tesla by 1.0% in the first quarter. Focused Wealth Management Inc now owns 3,232 shares of the electric vehicle producer’s stock worth $899,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 63.75% 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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply