Tesla (NASDAQ:TSLA) Receives Hold Rating from Truist Financial

Tesla (NASDAQ:TSLA)‘s stock had its “hold” rating reissued by analysts at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $162.00 price target on the electric vehicle producer’s stock. Truist Financial’s price objective suggests a potential downside of 34.25% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Evercore ISI decreased their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price on shares of Tesla in a report on Monday, April 22nd. HSBC dropped their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Tesla in a research report on Monday. Finally, Stifel Nicolaus initiated coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $189.47.

Tesla Price Performance

NASDAQ TSLA opened at $246.39 on Wednesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock’s 50-day moving average is $182.57 and its two-hundred day moving average is $191.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market cap of $785.79 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31.

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

Insiders Place Their Bets

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

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter valued at $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% during 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 acquired a new position in shares of Tesla during the fourth quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% during 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. 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.