Tesla (NASDAQ:TSLA) Given “Sell” Rating at Glj Research

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “sell” rating reaffirmed by analysts at Glj Research in a research report issued on Tuesday,Benzinga reports. They presently have a $24.86 target price on the electric vehicle producer’s stock. Glj Research’s price objective points to a potential downside of 93.57% from the stock’s previous close.

Several other brokerages have also recently commented on TSLA. Wells Fargo & Company reduced their target price on Tesla from $130.00 to $125.00 and set an “underweight” rating on the stock in a report on Thursday, January 29th. New Street Research boosted their price target on Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Truist Financial dropped their price target on Tesla from $438.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of Tesla in a research note on Tuesday, April 7th. Finally, TD Cowen decreased their price objective on Tesla from $519.00 to $490.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Eighteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $397.25.

View Our Latest Research Report on TSLA

Tesla Stock Performance

Shares of TSLA stock opened at $386.42 on Tuesday. The business’s 50 day simple moving average is $388.44 and its 200 day simple moving average is $421.86. Tesla has a one year low of $229.85 and a one year high of $498.83. The stock has a market capitalization of $1.45 trillion, a PE ratio of 357.80, a PEG ratio of 12.41 and a beta of 1.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The business had revenue of $24.90 billion for the quarter, compared to analysts’ expectations of $24.75 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Tesla will post 1.37 earnings per share for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of Tesla stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total value of $9,273,947.97. Following the transaction, the director directly owned 33,860 shares in the company, valued at approximately $12,166,913.80. The trade was a 43.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,804 shares of company stock valued at $20,865,598. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at $17,128,100,000. Corient Private Wealth LLC raised its stake in shares of Tesla by 3,205.5% in the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after buying an additional 20,810,386 shares during the period. Bank of America Corp DE raised its stake in shares of Tesla by 56.0% in the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after buying an additional 7,450,766 shares during the period. Cardano Risk Management B.V. raised its stake in shares of Tesla by 882.8% in the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after buying an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after buying an additional 6,538,720 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

About Tesla

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Featured Articles

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.