Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They currently have a $300.00 price target on the electric vehicle producer’s stock. Wedbush’s price objective would indicate a potential upside of 20.69% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Finally, Royal Bank of Canada raised their target price on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $216.87.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $34.93 during mid-day trading on Thursday, reaching $248.58. 37,077,441 shares of the company traded hands, compared to its average volume of 93,546,695. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm has a market cap of $794.12 billion, a PE ratio of 69.83, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The stock has a fifty day simple moving average of $228.54 and a 200-day simple moving average of $206.41. 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 posted its 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). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. Equities research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla 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 in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Tesla in the first quarter valued at approximately $79,000. Wealthcare Advisory Partners LLC boosted its position in shares of Tesla by 3.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after buying an additional 501 shares in the last quarter. Register Financial Advisors LLC increased its holdings in Tesla by 32.7% during the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after acquiring an additional 413 shares in the last quarter. Kathmere Capital Management LLC raised its position in Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after acquiring an additional 99 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. lifted its holdings in shares of Tesla by 4.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds 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.