Tesla (TSLA) Rating Reiterated by JPMorgan Chase & Co.

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reissued by JPMorgan Chase & Co. in a report issued on Thursday, April 4th, Stock Target Advisor reports. They presently have a $200.00 price target on the electric vehicle producer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 14.94% from the company’s current price.

A number of other brokerages also recently issued reports on TSLA. Zacks Investment Research downgraded shares of Tesla from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed a “sell” rating and issued a $210.00 target price on shares of Tesla in a research report on Thursday, April 4th. ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. BidaskClub downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, Sanford C. Bernstein reissued a “neutral” rating and set a $325.00 price objective on shares of Tesla in a research report on Friday, March 1st. Sixteen analysts have rated the stock with a sell rating, eleven have given 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 $310.68.

NASDAQ:TSLA traded down $12.49 during mid-day trading on Thursday, hitting $235.14. 21,785,717 shares of the stock traded hands, compared to its average volume of 9,029,879. The stock has a market cap of $45.58 billion, a P/E ratio of -41.11 and a beta of 0.35. Tesla has a 12-month low of $231.13 and a 12-month high of $387.46. 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 released its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the firm earned ($3.35) EPS. Tesla’s quarterly revenue was up 33.2% on a year-over-year basis. On average, equities analysts forecast that Tesla will post -2.01 earnings per share for the current fiscal year.

In other Tesla news, Director Linda Johnson Rice sold 1,700 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $320.00, for a total transaction of $544,000.00. Following the completion of the sale, the director now directly owns 1,700 shares of the company’s stock, valued at approximately $544,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Antonio J. Gracias sold 16,780 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $275.92, for a total transaction of $4,629,937.60. Following the sale, the director now directly owns 8,728 shares of the company’s stock, valued at $2,408,229.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,040 shares of company stock worth $28,575,874. 22.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Sontag Advisory LLC purchased a new position in shares of Tesla in the fourth quarter valued at $26,000. Alpha Windward LLC purchased a new position in shares of Tesla in the fourth quarter valued at $26,000. Gradient Investments LLC grew its holdings in shares of Tesla by 1,660.0% in the fourth quarter. Gradient Investments LLC now owns 88 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in Tesla in the fourth quarter worth $30,000. Finally, Financial Gravity Companies Inc. bought a new stake in Tesla in the fourth quarter worth $32,000. 59.55% of the stock is 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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