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.
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.
TRADEMARK VIOLATION WARNING: “Tesla (TSLA) Sets New 52-Week Low on Analyst Downgrade” was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/05/20/tesla-tsla-sets-new-52-week-low-on-analyst-downgrade.html.
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.
Featured Story: Find a Trading Strategy That Works
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.