Tesla (NASDAQ:TSLA) Rating Increased to Strong-Buy at Roth Capital

Tesla (NASDAQ:TSLA) was upgraded by equities researchers at Roth Capital from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Truist Financial increased their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Guggenheim increased their price target on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, UBS Group increased their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $243.75.

Tesla Stock Down 1.6 %

TSLA stock opened at $351.42 on Monday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The business’s 50 day moving average price is $278.63 and its two-hundred day moving average price is $235.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.28, a price-to-earnings-growth ratio of 11.60 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its position in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during 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.