Tesla (TSLA) Downgraded to Hold at Vetr

Tesla (NASDAQ:TSLA) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They presently have a $331.97 price target on the electric vehicle producer’s stock. Vetr‘s target price suggests a potential downside of 1.32% from the company’s current price.

Other analysts also recently issued research reports about the stock. Robert W. Baird reissued a “buy” rating and issued a $411.00 price objective on shares of Tesla in a report on Friday, September 29th. Nomura initiated coverage on shares of Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price objective for the company. Instinet initiated coverage on shares of Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price objective for the company. Guggenheim reissued a “buy” rating and issued a $430.00 price objective on shares of Tesla in a report on Friday, October 6th. Finally, Piper Jaffray Companies set a $386.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 16th. Eleven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $329.48.

Shares of Tesla (NASDAQ TSLA) opened at $336.41 on Tuesday. The company has a market cap of $56,540.00, a PE ratio of -39.30 and a beta of 0.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla has a twelve month low of $225.58 and a twelve month high of $389.61.

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

In related news, VP John Douglas Field sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total transaction of $180,960.00. Following the completion of the transaction, the vice president now directly owns 21,424 shares in the company, valued at approximately $6,461,478.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the transaction, the vice president now owns 1,736 shares of the company’s stock, valued at $589,354.64. The disclosure for this sale can be found here. Insiders sold a total of 14,692 shares of company stock valued at $4,692,003 over the last 90 days. Corporate insiders own 23.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Harfst & Associates Inc. increased its position in Tesla by 4.9% during the 2nd quarter. Harfst & Associates Inc. now owns 984 shares of the electric vehicle producer’s stock worth $355,000 after purchasing an additional 46 shares in the last quarter. Rikoon Group LLC increased its position in Tesla by 7.8% during the 2nd quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock worth $249,000 after purchasing an additional 50 shares in the last quarter. Linscomb & Williams Inc. increased its position in Tesla by 1.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 6,630 shares of the electric vehicle producer’s stock worth $2,397,000 after purchasing an additional 90 shares in the last quarter. Advisory Services Network LLC increased its position in Tesla by 21.6% during the 2nd quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after purchasing an additional 95 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Tesla by 2.3% during the 2nd quarter. Nordea Investment Management AB now owns 4,718 shares of the electric vehicle producer’s stock worth $1,706,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 57.12% of the company’s stock.

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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.

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