Tesla (NASDAQ:TSLA) Earns Underperform Rating from Needham & Company LLC

Tesla (NASDAQ:TSLA)‘s stock had its “underperform” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday, Briefing.com Automated Import reports.

A number of other research firms have also recently weighed in on TSLA. Sanford C. Bernstein set a $325.00 price target on Tesla and gave the company a “hold” rating in a report on Wednesday, August 21st. UBS Group set a $160.00 price target on Tesla and gave the company a “sell” rating in a report on Thursday, July 25th. Nord/LB reaffirmed a “sell” rating and set a $200.00 price target on shares of Tesla in a report on Thursday, July 25th. ValuEngine raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, BidaskClub raised Tesla from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Eighteen equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Tesla presently has a consensus rating of “Hold” and a consensus target price of $270.29.

Shares of TSLA traded down $16.59 during mid-day trading on Thursday, reaching $226.54. 4,529,177 shares of the company’s stock traded hands, compared to its average volume of 6,828,019. The business’s 50-day moving average price is $230.43 and its 200-day moving average price is $236.76. The stock has a market capitalization of $40.38 billion, a P/E ratio of -39.61 and a beta of 0.52. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. Tesla has a 12 month low of $176.99 and a 12 month high of $379.49.

Tesla (NASDAQ:TSLA) last released its quarterly 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The business’s quarterly revenue was up 58.7% on a year-over-year basis. During the same period last year, the firm posted ($3.06) EPS. Equities research analysts anticipate that Tesla will post -7.51 EPS for the current year.

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $242.47, for a total value of $36,370.50. Following the transaction, the chief financial officer now owns 10,001 shares in the company, valued at $2,424,942.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $230.45, for a total transaction of $3,456,750.00. Following the completion of the transaction, the insider now owns 287,723 shares in the company, valued at approximately $66,305,765.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,450 shares of company stock worth $3,565,073. 24.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Tesla by 1,892.8% in the 2nd quarter. SG Americas Securities LLC now owns 736,962 shares of the electric vehicle producer’s stock worth $164,682,000 after purchasing an additional 699,981 shares during the period. Primecap Management Co. CA lifted its stake in shares of Tesla by 67.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,526,940 shares of the electric vehicle producer’s stock valued at $341,210,000 after purchasing an additional 613,525 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $136,994,000. Hillhouse Capital Advisors LTD. acquired a new stake in shares of Tesla in the 2nd quarter valued at $116,329,000. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Tesla by 249.7% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 656,695 shares of the electric vehicle producer’s stock valued at $146,745,000 after purchasing an additional 468,884 shares during the last quarter. Hedge funds and other institutional investors own 54.42% of the company’s stock.

About Tesla

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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