Tesla’s (TSLA) “Underweight” Rating Reiterated at Barclays

Barclays reaffirmed their underweight rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Thursday morning, The Fly reports. They currently have a $1.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. ValuEngine raised Tesla from a sell rating to a hold rating in a report on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a hold rating in a report on Monday, November 13th. Royal Bank of Canada lowered their price target on Tesla from $345.00 to $340.00 and set a sector perform rating for the company in a report on Thursday, November 2nd. Vetr raised Tesla from a strong sell rating to a sell rating and set a $282.88 price target for the company in a report on Thursday, November 2nd. Finally, Nomura reaffirmed a buy rating and issued a $500.00 price target on shares of Tesla in a report on Tuesday, October 31st. Twelve 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 company presently has an average rating of Hold and an average price target of $322.32.

Shares of Tesla (TSLA) traded down $18.93 during trading on Thursday, hitting $296.30. The stock had a trading volume of 8,655,951 shares, compared to its average volume of 5,730,000. Tesla has a 1-year low of $242.01 and a 1-year high of $389.61. The firm has a market capitalization of $50,190.00, a P/E ratio of -25.13 and a beta of 0.97. 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 (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.12) by $0.08. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.26 billion. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.69) earnings per share. analysts forecast that Tesla will post -6.87 EPS for the current year.

In other news, Director Kimbal Musk sold 4,065 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the completion of the sale, the director now owns 154,589 shares in the company, valued at $48,244,135.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Branderiz sold 801 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the sale, the vice president now owns 1,287 shares of the company’s stock, valued at approximately $456,344.46. The disclosure for this sale can be found here. Insiders sold 10,231 shares of company stock valued at $3,292,431 over the last three months. Corporate insiders own 23.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TSLA. Jennison Associates LLC raised its stake in shares of Tesla by 17.1% during the fourth quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock worth $1,053,158,000 after purchasing an additional 494,761 shares during the last quarter. Janus Henderson Group PLC raised its position in Tesla by 126.6% in the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after acquiring an additional 305,596 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Tesla by 77.1% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock worth $197,922,000 after acquiring an additional 276,781 shares in the last quarter. Ariose Capital Management Ltd purchased a new position in Tesla in the third quarter worth $30,733,000. Finally, Lord Abbett & CO. LLC raised its position in Tesla by 78.9% in the second quarter. Lord Abbett & CO. LLC now owns 152,146 shares of the electric vehicle producer’s stock worth $55,018,000 after acquiring an additional 67,120 shares in the last quarter. Institutional investors and hedge funds own 57.35% 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.

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