Tesla (NASDAQ:TSLA) Earns “Sell” Rating from Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reissued by research analysts at Glj Research in a note issued to investors on Friday,Benzinga reports. They presently have a $24.86 target price on the electric vehicle producer’s stock. Glj Research’s price target would suggest a potential downside of 93.94% from the stock’s current price.

Several other brokerages also recently commented on TSLA. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $283.39.

Tesla Trading Up 8.2 %

Shares of NASDAQ:TSLA opened at $410.44 on Friday. Tesla has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $1.32 trillion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company’s 50-day moving average price is $362.37 and its two-hundred day moving average price is $273.14.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter valued at about $29,000. Clean Yield Group boosted 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 valued at $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter worth approximately $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at $35,000. 66.20% of the stock is owned by institutional investors.

About Tesla

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.