Tesla (NASDAQ:TSLA) Earns “Sell” Rating from Glj Research

Glj Research reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $24.86 price objective on the electric vehicle producer’s stock.

Several other analysts have also issued reports on the stock. Roth Mkm reiterated a neutral rating and set a $85.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Piper Sandler raised their target price on shares of Tesla from $300.00 to $310.00 and gave the company an overweight rating in a research report on Wednesday, September 25th. Barclays cut their price target on shares of Tesla from $225.00 to $220.00 and set an equal weight rating on the stock in a report on Thursday, July 25th. Morgan Stanley reissued an overweight rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, September 5th. Finally, TD Cowen lifted their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a hold rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $209.90.

Tesla Stock Performance

TSLA stock opened at $260.46 on Thursday. The company has a 50 day moving average price of $221.89 and a 200 day moving average price of $198.88. The stock has a market capitalization of $830.66 billion, a PE ratio of 66.44, a price-to-earnings-growth ratio of 6.92 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Tesla will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 in the last three months. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Finally, Kessler Investment Group LLC lifted its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 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.