Tesla (TSLA) Sets New 52-Week Low on Analyst Downgrade

Tesla Inc (NASDAQ:TSLA) reached a new 52-week low on Monday after Wedbush lowered their price target on the stock from $275.00 to $230.00. Wedbush currently has a neutral rating on the stock. Tesla traded as low as $195.25 and last traded at $199.47, with a volume of 6418996 shares changing hands. The stock had previously closed at $211.03.

Several other research firms have also weighed in on TSLA. Goldman Sachs Group reiterated a “sell” rating and issued a $210.00 price objective on shares of Tesla in a research note on Friday, March 1st. Sanford C. Bernstein reiterated a “neutral” rating and issued a $325.00 price objective on shares of Tesla in a research note on Friday, March 29th. Roth Capital set a $240.00 price objective on Tesla and gave the company a “hold” rating in a research note on Tuesday, April 23rd. JMP Securities lowered their price objective on Tesla from $406.00 to $394.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Finally, Morgan Stanley reiterated a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research note on Thursday, May 2nd. Sixteen analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $302.15.

In other Tesla news, Director Antonio J. Gracias sold 16,780 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $285.46, for a total transaction of $4,790,018.80. Following the transaction, the director now owns 16,792 shares of the company’s stock, valued at approximately $4,793,444.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $316.95, for a total value of $4,754,250.00. Following the transaction, the insider now directly owns 321,398 shares in the company, valued at approximately $101,867,096.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,560 shares of company stock worth $21,772,906. Company insiders own 22.80% of the company’s stock.

A number of large investors have recently bought and sold shares of TSLA. Vista Capital Partners Inc. acquired a new position in shares of Tesla in the 4th quarter valued at $241,000. Quantamental Technologies LLC acquired a new position in shares of Tesla in the 1st quarter valued at $92,000. Berkshire Capital Holdings Inc. lifted its stake in shares of Tesla by 371,900.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 18,600 shares of the electric vehicle producer’s stock valued at $6,190,000 after purchasing an additional 18,595 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Tesla by 15.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,190 shares of the electric vehicle producer’s stock valued at $5,055,000 after purchasing an additional 1,990 shares during the period. Finally, Private Ocean LLC lifted its stake in shares of Tesla by 1,413.3% in the 1st quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock valued at $64,000 after purchasing an additional 212 shares during the period. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

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 market cap of $36.66 billion, a price-to-earnings ratio of -35.06 and a beta of 0.27.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period last year, the company earned ($3.35) EPS. On average, equities research analysts anticipate that Tesla Inc will post -4.64 earnings per share for the current year.

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About Tesla (NASDAQ:TSLA)

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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