Goldman Sachs Reaffirms Sell Rating for Tesla (TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by equities researchers at Goldman Sachs in a research report issued on Monday.

A number of other equities research analysts have also recently issued reports on TSLA. Vetr cut Tesla from a “sell” rating to a “strong sell” rating and set a $272.81 price objective on the stock. in a research note on Monday, November 20th. Global Equities Research restated a “buy” rating and issued a $485.00 price objective on shares of Tesla in a research note on Wednesday, November 29th. Cascend Securities cut Tesla from a “hold” rating to a “sell” rating and set a $250.00 price objective on the stock. in a research note on Tuesday, December 5th. Cann cut Tesla from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, ValuEngine upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Thirteen equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $322.64.

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Shares of Tesla stock opened at $310.55 on Monday. Tesla has a 52 week low of $250.24 and a 52 week high of $389.61. The stock has a market capitalization of $54,282.41, a PE ratio of -26.34 and a beta of 1.01. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business posted ($0.69) EPS. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. equities analysts anticipate that Tesla will post -15.15 earnings per share for the current fiscal year.

In related news, VP Eric Branderiz sold 401 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $353.50, for a total value of $141,753.50. Following the transaction, the vice president now directly owns 1,248 shares in the company, valued at $441,168. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Douglas Field sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total value of $334,870.00. Following the completion of the sale, the vice president now directly owns 20,128 shares of the company’s stock, valued at approximately $6,740,263.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,719 shares of company stock worth $2,827,816. 23.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in Tesla by 20.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after buying an additional 155 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Tesla by 0.7% in the third quarter. First Republic Investment Management Inc. now owns 23,373 shares of the electric vehicle producer’s stock worth $7,972,000 after buying an additional 161 shares in the last quarter. Parallel Advisors LLC boosted its stake in Tesla by 12.7% in the third quarter. Parallel Advisors LLC now owns 1,438 shares of the electric vehicle producer’s stock worth $454,000 after buying an additional 162 shares in the last quarter. Catawba Capital Management VA boosted its stake in Tesla by 6.0% in the fourth quarter. Catawba Capital Management VA now owns 2,935 shares of the electric vehicle producer’s stock worth $914,000 after buying an additional 165 shares in the last quarter. Finally, Essex Financial Services Inc. boosted its stake in Tesla by 4.9% in the fourth quarter. Essex Financial Services Inc. now owns 3,549 shares of the electric vehicle producer’s stock worth $1,105,000 after buying an additional 165 shares in the last quarter. 58.18% of the stock is owned by institutional investors and hedge funds.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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