Tesla (NASDAQ:TSLA) PT Set at $190.00 by Royal Bank of Canada

Tesla (NASDAQ:TSLA) received a $190.00 price objective from equities research analysts at Royal Bank of Canada in a report issued on Tuesday, TipRanks reports. The firm presently has a “sell” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 23.11% from the company’s current price.

A number of other research firms have also commented on TSLA. BidaskClub raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays reiterated an “underweight” rating and issued a $150.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Morgan Stanley cut their price objective on shares of Tesla to $230.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Nomura set a $270.00 target price on shares of Tesla and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Finally, Citigroup lowered their target price on shares of Tesla from $238.00 to $191.00 and set a “sell” rating on the stock in a report on Wednesday, May 22nd. Eighteen investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $269.53.

NASDAQ TSLA traded up $11.56 on Tuesday, reaching $247.10. The stock had a trading volume of 10,006,696 shares, compared to its average volume of 9,269,790. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. The firm has a fifty day moving average of $227.96 and a two-hundred day moving average of $241.79. Tesla has a 1-year low of $176.99 and a 1-year high of $379.49. The company has a market cap of $41.52 billion, a P/E ratio of -43.20 and a beta of 0.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The firm’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.06) EPS. Research analysts predict that Tesla will post -7.51 EPS for the current fiscal year.

In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.51, for a total value of $3,352,650.00. Following the transaction, the insider now owns 306,098 shares in the company, valued at $68,415,963.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm bought 1,000 shares of the stock in a transaction on Monday, July 29th. The shares were acquired at an average cost of $232.72 per share, with a total value of $232,720.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $232,720. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 30,300 shares of company stock worth $6,881,352. Company insiders own 24.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clarus Wealth Advisors lifted its stake in Tesla by 83.3% in the 2nd quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in shares of Tesla by 121.8% during the 2nd quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Tesla during the 1st quarter valued at $28,000. AllSquare Wealth Management LLC acquired a new stake in shares of Tesla during the 2nd quarter valued at $28,000. Finally, Bedel Financial Consulting Inc. grew its position in Tesla by 197.7% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 54.44% of the company’s stock.

Tesla Company Profile

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.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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