Roth Mkm Reiterates “Neutral” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reaffirmed by Roth Mkm in a note issued to investors on Wednesday, Benzinga reports. They presently have a $85.00 price objective on the electric vehicle producer’s stock. Roth Mkm’s target price would suggest a potential downside of 50.05% from the company’s previous close.

A number of other analysts have also recently commented on the company. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Friday, April 19th. Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Canaccord Genuity Group lowered their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday. China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lowered their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Up 5.0 %

TSLA stock opened at $170.18 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business’s 50 day moving average price is $175.67 and its two-hundred day moving average price is $208.64. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a market capitalization of $541.99 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after purchasing an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during 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.