Tesla (NASDAQ:TSLA) Rating Reiterated by Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $245.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 8.33% from the stock’s current price.

Several other brokerages have also recently commented on TSLA. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Wolfe Research began coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Barclays reduced their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. 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 an average rating of “Hold” and a consensus price target of $209.03.

Tesla Stock Performance

Shares of TSLA stock opened at $226.17 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $224.49 and a two-hundred day moving average of $193.96. The company has a market cap of $722.53 billion, a P/E ratio of 57.70, a PEG ratio of 5.57 and a beta of 2.29. Tesla has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last announced 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Tesla 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently made changes to their positions in the business. Integris Wealth Management LLC increased its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC increased its stake in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co increased its stake in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC increased its stake in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group increased its stake in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.