Tesla’s (TSLA) Neutral Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Wednesday, Borsen Zeitung reports. The firm currently has a $230.00 price target on the electric vehicle producer’s stock.

Other analysts have also recently issued reports about the company. Citigroup upgraded Gilead Sciences from a neutral rating to a buy rating and set a $66.80 target price for the company in a report on Wednesday, May 22nd. Royal Bank of Canada decreased their price target on Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating on the stock in a research note on Monday, May 6th. Piper Jaffray Companies set a $10.00 price target on Mammoth Energy Services and gave the company a buy rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upped their price target on from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the company an overweight rating in a research note on Wednesday, July 3rd. Finally, Wolfe Research lowered Tesla from an outperform rating to a market perform rating and decreased their price target for the company from $375.00 to $265.00 in a research note on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $281.97.

Shares of NASDAQ:TSLA opened at $258.18 on Wednesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.83 and a quick ratio of 0.42. The company has a fifty day moving average of $222.41. Tesla has a 52-week low of $176.99 and a 52-week high of $387.46.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.35) earnings per share. As a group, equities analysts expect that Tesla will post -4.57 earnings per share for the current fiscal year.

In related news, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $239.08, for a total transaction of $3,586,200.00. Following the transaction, the insider now owns 321,398 shares of the company’s stock, valued at approximately $76,839,833.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $255.68, for a total value of $38,352.00. Following the transaction, the chief financial officer now directly owns 9,962 shares in the company, valued at approximately $2,547,084.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,456 shares of company stock worth $24,716,630. 24.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackey Komara & Dankovich LLC lifted its stake in Tesla by 493.3% during the 1st quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 74 shares in the last quarter. Sontag Advisory LLC acquired a new stake in Tesla in the 4th quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in Tesla in the 1st quarter valued at about $28,000. Legacy Advisors LLC acquired a new stake in Tesla in the 1st quarter valued at about $32,000. Finally, Smart Portfolios LLC acquired a new stake in Tesla in the 1st quarter valued at about $34,000. 55.77% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.

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