Tesla’s (TSLA) Sell Rating Reaffirmed at Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by research analysts at Glj Research in a note issued to investors on Friday,Benzinga reports. They presently have a $24.86 price target on the electric vehicle producer’s stock. Glj Research’s target price would suggest a potential downside of 93.94% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada boosted their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Bank of America increased their price target on shares of Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $283.39.

Tesla Stock Performance

NASDAQ:TSLA opened at $410.44 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.32 trillion, a P/E ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The firm’s fifty day simple moving average is $362.37 and its 200 day simple moving average is $273.14.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Tesla will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Clean Energy Transition LLP boosted its stake in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Hedge funds and other 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.