Tesla (NASDAQ:TSLA) Receives Sell Rating from Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by analysts at Glj Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s target price would indicate a potential downside of 93.45% from the company’s previous close.

Several other research firms have also recently issued reports on TSLA. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Wolfe Research began coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus boosted their target price on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $279.45.

Tesla Stock Down 6.1 %

Tesla stock opened at $379.28 on Friday. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 103.91, a P/E/G ratio of 10.80 and a beta of 2.36. The company has a 50-day simple moving average of $359.54 and a 200-day simple moving average of $271.59. Tesla has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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

Insider Activity

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock worth $169,393,831 in the last three months. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NRI Wealth Management LC bought a new position in shares of Tesla in the fourth quarter valued at approximately $1,084,000. GAMMA Investing LLC raised its holdings in Tesla by 35.4% in the 4th quarter. GAMMA Investing LLC now owns 35,709 shares of the electric vehicle producer’s stock worth $14,421,000 after acquiring an additional 9,342 shares during the period. Versant Capital Management Inc boosted its holdings in Tesla by 24.5% during the fourth quarter. Versant Capital Management Inc now owns 3,892 shares of the electric vehicle producer’s stock valued at $1,572,000 after acquiring an additional 767 shares during the period. Global Wealth Strategies & Associates grew its position in shares of Tesla by 9.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 1,130 shares of the electric vehicle producer’s stock valued at $456,000 after purchasing an additional 100 shares during the last quarter. Finally, SK Wealth Management LLC bought a new position in shares of Tesla in the third quarter worth about $504,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.