Tesla Inc. (TSLA) Rating Lowered to Strong Sell at Vetr Inc.

Tesla Inc. (NASDAQ:TSLA) was downgraded by research analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday. They presently have a $272.81 target price on the electric vehicle producer’s stock. Vetr‘s target price indicates a potential downside of 14.16% from the company’s previous close.

A number of other research firms have also weighed in on TSLA. Robert W. Baird reissued an “outperform” rating and issued a $411.00 target price on shares of Tesla in a report on Monday, September 18th. Jefferies Group LLC started coverage on shares of Tesla in a report on Tuesday, September 19th. They issued an “underperform” rating and a $280.00 target price for the company. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the company a “neutral” rating in a report on Wednesday, September 20th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $345.00 target price (up from $314.00) on shares of Tesla in a report on Wednesday, August 9th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $240.00 target price on shares of Tesla in a report on Wednesday, August 9th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $329.87.

Shares of Tesla (TSLA) opened at $317.81 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. Tesla has a fifty-two week low of $180.00 and a fifty-two week high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was up 29.9% on a year-over-year basis. equities analysts expect that Tesla will post -11.38 earnings per share for the current fiscal year.

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In other news, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The disclosure for this sale can be found here. Insiders have sold 10,741 shares of company stock worth $3,579,311 in the last 90 days. Insiders own 23.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in shares of Tesla by 2.1% during the third quarter. Public Employees Retirement System of Ohio now owns 90,062 shares of the electric vehicle producer’s stock worth $30,720,000 after acquiring an additional 1,812 shares during the last quarter. Energy Opportunities Capital Management LLC purchased a new stake in shares of Tesla during the third quarter worth about $1,302,000. GSA Capital Partners LLP purchased a new stake in shares of Tesla during the third quarter worth about $6,986,000. Garde Capital Inc. grew its stake in shares of Tesla by 9.6% during the third quarter. Garde Capital Inc. now owns 3,152 shares of the electric vehicle producer’s stock worth $1,075,000 after acquiring an additional 275 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Tesla during the third quarter worth about $245,000. Institutional investors and hedge funds own 55.71% 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)

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