Tesla’s (TSLA) Sell Rating Reiterated at Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report report published on Thursday morning,Benzinga reports.

A number of other research analysts have also recently weighed in on TSLA. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Wedbush reiterated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Tuesday, July 22nd. Baird R W cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $302.75.

Tesla Stock Up 3.5%

TSLA opened at $316.06 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39. Tesla has a twelve month low of $182.00 and a twelve month high of $488.54. The company’s 50-day moving average price is $324.70 and its two-hundred day moving average price is $314.09.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company’s stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 31 shares during the period. 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.