Tesla’s (TSLA) Sell Rating Reiterated at Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Friday,Benzinga reports. Glj Research currently has a $24.86 price objective on the electric vehicle producer’s stock.

A number of other equities research analysts have also issued reports on the company. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group boosted their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Royal Bank of Canada boosted their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Stifel Nicolaus boosted their price target on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler boosted their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $283.39.

Tesla Stock Up 8.2 %

Shares of Tesla stock opened at $410.44 on Friday. The business’s 50 day simple moving average is $362.37 and its 200 day simple moving average is $273.76. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $1.32 trillion, a PE ratio of 112.45, a P/E/G ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Tesla will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group increased its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth about $35,000. Institutional investors and hedge funds 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.