Tesla (NASDAQ:TSLA) Rating Reiterated by Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $230.00 target price on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 9.35% from the company’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. Wedbush restated an “outperform” rating and set a $275.00 price target on shares of Tesla in a research note on Friday, June 14th. Guggenheim reaffirmed a “sell” rating and set a $126.00 price objective on shares of Tesla in a research report on Tuesday, June 25th. Finally, Evercore ISI dropped their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $187.30.

Tesla Trading Up 6.3 %

TSLA traded up $12.46 during trading on Monday, reaching $210.34. The company had a trading volume of 80,687,969 shares, compared to its average volume of 95,213,758. The stock has a market cap of $670.82 billion, a P/E ratio of 53.55, a PEG ratio of 4.91 and a beta of 2.31. The business has a 50 day simple moving average of $177.80 and a 200-day simple moving average of $191.38. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, equities analysts anticipate that Tesla will post 1.86 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the stock. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC grew its position in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. grew its position in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.