Tesla (NASDAQ:TSLA) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a buy rating in a report released on Friday, March 29th, ValuEngine reports.

Other equities research analysts have also issued reports about the company. Goldman Sachs Group restated a sell rating and set a $225.00 price objective on shares of Tesla in a research report on Tuesday, January 22nd. UBS Group decreased their price objective on Tesla from $230.00 to $220.00 and set a sell rating for the company in a research report on Tuesday, January 29th. JPMorgan Chase & Co. restated a sell rating and set a $230.00 price objective on shares of Tesla in a research report on Tuesday, February 26th. Jefferies Financial Group reiterated a buy rating and set a $450.00 price target on shares of Tesla in a report on Wednesday, March 27th. Finally, JMP Securities reduced their price target on Tesla from $406.00 to $394.00 and set an outperform rating for the company in a report on Monday, March 25th. Fifteen analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $315.41.

NASDAQ TSLA traded up $2.03 during trading on Friday, reaching $273.26. 5,876,325 shares of the company’s stock were exchanged, compared to its average volume of 8,720,202. Tesla has a fifty-two week low of $247.77 and a fifty-two week high of $387.46. The firm has a market capitalization of $47.20 billion, a PE ratio of -47.77 and a beta of 0.35. The company has a current ratio of 0.83, a quick ratio of 0.52 and a debt-to-equity ratio of 1.63.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.93. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same period last year, the company posted ($3.04) EPS. The business’s quarterly revenue was up 119.8% compared to the same quarter last year. Research analysts anticipate that Tesla will post -2.01 EPS for the current year.

In other Tesla news, Director Linda Johnson Rice sold 1,700 shares of Tesla stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $320.00, for a total value of $544,000.00. Following the transaction, the director now directly owns 1,700 shares of the company’s stock, valued at approximately $544,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Antonio J. Gracias sold 16,780 shares of Tesla stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $306.01, for a total value of $5,134,847.80. Following the completion of the transaction, the director now directly owns 19,572 shares in the company, valued at $5,989,227.72. The disclosure for this sale can be found here. Insiders sold a total of 98,040 shares of company stock worth $28,575,874 over the last three months. 22.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Polaris Greystone Financial Group LLC increased its position in Tesla by 3.1% in the 4th quarter. Polaris Greystone Financial Group LLC now owns 1,013 shares of the electric vehicle producer’s stock worth $337,000 after buying an additional 30 shares during the period. Hanson McClain Inc. increased its position in Tesla by 3.9% in the 4th quarter. Hanson McClain Inc. now owns 994 shares of the electric vehicle producer’s stock worth $331,000 after buying an additional 37 shares during the period. Regentatlantic Capital LLC increased its position in Tesla by 5.4% in the 4th quarter. Regentatlantic Capital LLC now owns 879 shares of the electric vehicle producer’s stock worth $293,000 after buying an additional 45 shares during the period. Sage Capital Advisors llc increased its position in Tesla by 57.7% in the 4th quarter. Sage Capital Advisors llc now owns 123 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 45 shares during the period. Finally, Garde Capital Inc. increased its position in Tesla by 2.3% in the 3rd quarter. Garde Capital Inc. now owns 2,104 shares of the electric vehicle producer’s stock worth $733,000 after buying an additional 47 shares during the period. 59.50% of the stock is currently owned by 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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