HSBC Forecasts Strong Price Appreciation for Tesla (NASDAQ:TSLA) Stock

Tesla (NASDAQ:TSLA) had its price target upped by research analysts at HSBC from $120.00 to $127.00 in a research report issued to clients and investors on Monday,MarketScreener reports. HSBC’s target price indicates a potential downside of 71.44% from the stock’s previous close.

A number of other research firms have also recently commented on TSLA. China Renaissance reissued a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. CICC Research increased their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research report on Monday, September 22nd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Tesla in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $337.15.

Tesla Trading Up 0.3%

NASDAQ TSLA opened at $444.72 on Monday. Tesla has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.48 trillion, a P/E ratio of 257.06, a P/E/G ratio of 15.46 and a beta of 2.06. The stock’s fifty day moving average price is $356.59 and its 200-day moving average price is $317.64. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the business. Rydar Equities Inc. purchased a new position in Tesla during the 2nd quarter valued at approximately $1,013,000. Summit Financial Wealth Advisors LLC grew its holdings in Tesla by 7.4% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 4,903 shares of the electric vehicle producer’s stock valued at $1,557,000 after buying an additional 337 shares in the last quarter. TradeWell Securities LLC. grew its holdings in Tesla by 15.8% during the 2nd quarter. TradeWell Securities LLC. now owns 1,995 shares of the electric vehicle producer’s stock valued at $634,000 after buying an additional 272 shares in the last quarter. National Wealth Management Group LLC grew its holdings in Tesla by 26.3% during the 2nd quarter. National Wealth Management Group LLC now owns 8,447 shares of the electric vehicle producer’s stock valued at $2,683,000 after buying an additional 1,761 shares in the last quarter. Finally, Momentum Wealth Planning LLC purchased a new position in Tesla during the 2nd quarter valued at approximately $3,114,000. 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.