Tesla (NASDAQ:TSLA) Rating Reiterated by Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by stock analysts at Glj Research in a report issued on Thursday, Benzinga reports. They presently have a $24.86 target price on the electric vehicle producer’s stock. Glj Research’s price objective would indicate a potential downside of 88.77% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Barclays lowered their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Finally, Truist Financial raised their price target on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Price Performance

TSLA stock opened at $221.33 on Thursday. The stock has a market cap of $707.07 billion, a price-to-earnings ratio of 62.17, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a 50 day simple moving average of $226.81 and a 200 day simple moving average of $204.69. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. Research analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at $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. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently modified their holdings of the business. DiNuzzo Private Wealth Inc. grew its stake in Tesla by 818.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 762 shares of the electric vehicle producer’s stock valued at $199,000 after buying an additional 679 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in shares of Tesla by 2.8% in the third quarter. Onyx Bridge Wealth Group LLC now owns 7,705 shares of the electric vehicle producer’s stock worth $2,016,000 after acquiring an additional 209 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tesla by 4.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 324,754 shares of the electric vehicle producer’s stock valued at $84,965,000 after purchasing an additional 13,764 shares in the last quarter. Bar Harbor Wealth Management bought a new stake in shares of Tesla during the third quarter valued at about $238,000. Finally, Heirloom Wealth Management purchased a new stake in shares of Tesla in the third quarter worth about $232,000. Institutional investors own 66.20% of the company’s stock.

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.