HSBC Lowers Tesla (NASDAQ:TSLA) Price Target to $120.00

Tesla (NASDAQ:TSLA) had its price objective lowered by HSBC from $138.00 to $120.00 in a research note issued to investors on Wednesday morning, Benzinga reports. HSBC currently has a reduce rating on the electric vehicle producer’s stock.

Other research analysts also recently issued research reports about the company. Oppenheimer reissued a market perform rating on shares of Tesla in a report on Wednesday. Bank of America raised Tesla from a neutral rating to a buy rating and set a $220.00 price target for the company in a report on Wednesday. Citigroup reduced their price target on Tesla from $196.00 to $180.00 and set a neutral rating for the company in a report on Friday, April 12th. Barclays reduced their target price on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Finally, Piper Sandler reaffirmed an overweight rating and set a $205.00 target price on shares of Tesla in a report on Monday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Tesla has an average rating of Hold and a consensus target price of $186.22.

Tesla Price Performance

TSLA stock opened at $162.13 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market cap of $516.35 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. The stock has a 50-day simple moving average of $176.28 and a 200-day simple moving average of $208.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 EPS. On average, equities analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last three months. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC grew its stake in Tesla by 1.0% in the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after purchasing an additional 42 shares in the last quarter. Holderness Investments Co. grew its stake in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares in the last quarter. SCS Capital Management LLC grew its stake in Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares in the last quarter. Finally, ML & R Wealth Management LLC grew its stake in Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.