Tesla (NASDAQ:TSLA) Given Reduce Rating at HSBC

HSBC reiterated their reduce rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Thursday morning,Benzinga reports. They currently have a $120.00 target price on the electric vehicle producer’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Friday, June 20th. Piper Sandler reissued an “overweight” rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Mizuho upped their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $301.24.

Tesla Stock Down 0.7%

Shares of NASDAQ:TSLA opened at $313.56 on Thursday. The firm has a market cap of $1.01 trillion, a P/E ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The business has a fifty day simple moving average of $320.36 and a 200 day simple moving average of $327.07. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts predict that Tesla will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rinkey Investments raised its stake in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after acquiring an additional 29 shares in the last quarter. Bell Investment Advisors Inc grew its stake in shares of Tesla by 1.3% during the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock worth $945,000 after purchasing an additional 30 shares during the period. Pitti Group Wealth Management LLC increased its stake in shares of Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during 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.