Tesla (NASDAQ:TSLA) Receives Sell Rating from Guggenheim

Guggenheim restated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Tuesday, Benzinga reports. They currently have a $122.00 price target on the electric vehicle producer’s stock.

A number of other research firms have also recently commented on TSLA. HSBC decreased their target price on shares of Tesla from $143.00 to $138.00 and set a reduce rating on the stock in a research report on Wednesday, April 3rd. Jefferies Financial Group decreased their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research report on Wednesday, April 10th. Piper Sandler reaffirmed an overweight rating and issued a $205.00 target price on shares of Tesla in a research report on Monday. Royal Bank of Canada reaffirmed an outperform rating and issued a $298.00 target price on shares of Tesla in a research report on Wednesday, March 27th. Finally, China Renaissance assumed coverage on shares of Tesla in a research report on Monday, February 26th. They issued a hold rating on the stock. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $194.33.

Tesla Price Performance

Tesla stock opened at $144.68 on Tuesday. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.89 and a beta of 2.40. The company has a fifty day simple moving average of $176.81 and a 200-day simple moving average of $209.24. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Tesla will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last three months. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds have recently modified their holdings of the business. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its holdings in shares of Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla during the fourth quarter worth $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.