Tesla Inc (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Brokerages

Share on StockTwits

Tesla Inc (NASDAQ:TSLA) has been given a consensus recommendation of “Hold” by the forty-one research firms that are covering the firm, MarketBeat reports. Eighteen investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $258.84.

Several equities research analysts recently weighed in on the stock. Canaccord Genuity reduced their price target on shares of Tesla from $394.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Cowen set a $140.00 price objective on shares of Tesla and gave the company a “sell” rating in a research report on Wednesday, July 3rd. ValuEngine upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “sell” rating on shares of Tesla in a research report on Sunday, July 7th. Finally, Wedbush reiterated a “hold” rating and set a $230.00 price objective on shares of Tesla in a research report on Thursday, July 25th.

TSLA traded up $3.02 during trading hours on Thursday, hitting $246.51. The company’s stock had a trading volume of 2,625,673 shares, compared to its average volume of 9,137,609. The business’s 50-day moving average price is $229.23 and its 200-day moving average price is $240.03. Tesla has a 12 month low of $176.99 and a 12 month high of $379.49. The stock has a market cap of $43.49 billion, a price-to-earnings ratio of -43.10 and a beta of 0.54. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 1.71.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the firm posted ($3.06) EPS. The company’s revenue for the quarter was up 58.7% on a year-over-year basis. On average, analysts forecast that Tesla will post -7.51 earnings per share for the current year.

In other Tesla news, Director Robyn M. Denholm acquired 1,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $232.72 per share, with a total value of $232,720.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $232,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey B. Straubel sold 15,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.51, for a total transaction of $3,352,650.00. Following the completion of the sale, the insider now directly owns 306,098 shares of the company’s stock, valued at $68,415,963.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,300 shares of company stock valued at $6,881,352. 24.40% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in shares of Tesla by 1.2% during the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock valued at $2,996,539,000 after buying an additional 165,206 shares during the last quarter. Private Ocean LLC lifted its position in shares of Tesla by 1,413.3% during the first quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock valued at $64,000 after buying an additional 212 shares during the last quarter. Fort Point Capital Partners LLC lifted its position in shares of Tesla by 8.1% during the first quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock valued at $465,000 after buying an additional 124 shares during the last quarter. Noven Financial Group Inc. purchased a new stake in shares of Tesla during the first quarter valued at about $245,000. Finally, Northern Trust Corp lifted its position in shares of Tesla by 1.0% during the first quarter. Northern Trust Corp now owns 924,061 shares of the electric vehicle producer’s stock valued at $258,608,000 after buying an additional 9,430 shares during the last quarter. 54.42% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Featured Article: Bond

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.