Tesla (TSLA) Upgraded to “C” at TheStreet

Tesla (NASDAQ:TSLA) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a research report issued on Wednesday.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Sanford C. Bernstein reissued a “neutral” rating and issued a $325.00 price target on shares of Tesla in a report on Monday, September 10th. Macquarie set a $430.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity set a $316.00 price target on shares of Tesla and gave the stock a “hold” rating in a report on Tuesday, August 28th. Finally, Evercore ISI set a $301.00 price target on shares of Tesla and gave the stock a “hold” rating in a report on Wednesday, August 8th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $318.58.

Shares of NASDAQ:TSLA opened at $351.40 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.37 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $58.57 billion, a P/E ratio of -30.61 and a beta of 0.48. Tesla has a fifty-two week low of $244.59 and a fifty-two week high of $387.46.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.77) by $4.67. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $5.67 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. On average, analysts expect that Tesla will post -5.09 EPS for the current year.

In other news, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the sale, the insider now directly owns 8,598 shares in the company, valued at $2,630,988. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Elon Musk purchased 29,844 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $334.98 per share, for a total transaction of $9,997,143.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 3,875 shares of company stock worth $1,218,010. Company insiders own 22.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in shares of Tesla by 3.1% in the second quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock worth $4,517,269,000 after purchasing an additional 395,727 shares during the last quarter. Jennison Associates LLC grew its position in Tesla by 11.2% during the third quarter. Jennison Associates LLC now owns 4,817,282 shares of the electric vehicle producer’s stock valued at $1,275,472,000 after acquiring an additional 485,095 shares during the last quarter. ARK Investment Management LLC grew its position in Tesla by 68.2% during the third quarter. ARK Investment Management LLC now owns 746,725 shares of the electric vehicle producer’s stock valued at $197,710,000 after acquiring an additional 302,851 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Tesla by 7.5% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 581,589 shares of the electric vehicle producer’s stock valued at $153,987,000 after acquiring an additional 40,618 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 15.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 575,829 shares of the electric vehicle producer’s stock valued at $152,462,000 after acquiring an additional 75,321 shares during the last quarter. Institutional investors own 62.17% of the company’s stock.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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