Tesla (NASDAQ:TSLA) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Tuesday, Benzinga reports. The firm currently has a $245.00 price target on the electric vehicle producer’s stock.

Several other research analysts have also commented on TSLA. Oppenheimer restated a market perform rating on shares of Tesla in a research note on Tuesday, July 9th. Roth Mkm reiterated a neutral rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Stifel Nicolaus initiated coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a buy rating and a $265.00 target price on the stock. Wedbush reiterated an outperform rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, KGI Securities reiterated a neutral rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of Hold and an average target price of $204.21.

Tesla Stock Performance

Shares of TSLA opened at $230.17 on Tuesday. The company’s fifty day moving average is $224.21 and its 200-day moving average is $193.52. Tesla has a 12 month low of $138.80 and a 12 month high of $278.98. The firm has a market cap of $735.31 billion, a price-to-earnings ratio of 58.72, a price-to-earnings-growth ratio of 5.55 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla will post 1.79 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in the company. Integris Wealth Management LLC increased its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Echo Wealth Management LLC increased its position in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Bellevue Asset Management LLC increased its position in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares in the last quarter. Finally, Cypress Capital Group increased its position in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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.