Tesla (NASDAQ:TSLA) Receives “Sell” Rating from Royal Bank of Canada

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $290.00 price objective on the electric vehicle producer’s stock. Royal Bank of Canada’s price target indicates a potential downside of 25.43% from the company’s current price.

Several other brokerages also recently commented on TSLA. Oppenheimer assumed coverage on Tesla in a research note on Tuesday, June 30th. They issued a “buy” rating and a $193.60 target price for the company. Argus raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. set a $65.00 target price on shares of Tesla and gave the stock a “sell” rating in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Tesla in a research note on Monday, August 31st. Finally, Barclays set a $60.00 price target on shares of Tesla and gave the company a “sell” rating in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $201.53.

TSLA traded down $35.33 on Wednesday, hitting $388.90. The company’s stock had a trading volume of 3,002,873 shares, compared to its average volume of 86,550,906. Tesla has a 12 month low of $43.67 and a 12 month high of $502.49. The firm has a market cap of $393.20 billion, a P/E ratio of 1,012.68, a price-to-earnings-growth ratio of 15.47 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. The company’s 50 day simple moving average is $383.97 and its 200-day simple moving average is $229.20.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.91. The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $4.96 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same quarter in the prior year, the business posted ($0.22) earnings per share. Equities analysts predict that Tesla will post 0.69 earnings per share for the current fiscal year.

In other news, CAO Vaibhav Taneja sold 887 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $1,558.75, for a total transaction of $1,382,611.25. Following the completion of the sale, the chief accounting officer now directly owns 2,806 shares in the company, valued at $4,373,852.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jerome M. Guillen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $1,083.50, for a total value of $3,250,500.00. Following the transaction, the insider now directly owns 12,752 shares of the company’s stock, valued at approximately $13,816,792. The disclosure for this sale can be found here. Insiders have sold a total of 68,404 shares of company stock valued at $69,328,343 over the last 90 days. 23.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Atria Investments LLC increased its position in Tesla by 1,230.4% during the 2nd quarter. Atria Investments LLC now owns 5,654 shares of the electric vehicle producer’s stock valued at $6,105,000 after purchasing an additional 5,229 shares during the period. Two Sigma Advisers LP raised its position in shares of Tesla by 53.1% in the 2nd quarter. Two Sigma Advisers LP now owns 293,752 shares of the electric vehicle producer’s stock worth $317,196,000 after acquiring an additional 101,845 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Tesla by 525.8% in the second quarter. Schonfeld Strategic Advisors LLC now owns 41,425 shares of the electric vehicle producer’s stock worth $44,731,000 after purchasing an additional 34,805 shares during the period. Principal Financial Group Inc. raised its holdings in Tesla by 122.3% in the second quarter. Principal Financial Group Inc. now owns 18,946 shares of the electric vehicle producer’s stock worth $20,459,000 after purchasing an additional 10,423 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in Tesla during the second quarter valued at $536,000. Institutional investors and hedge funds own 48.22% 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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