Tesla’s (TSLA) “Sell” Rating Reaffirmed at Guggenheim

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by analysts at Guggenheim in a research note issued on Tuesday, Benzinga reports. They currently have a $134.00 price target on the electric vehicle producer’s stock. Guggenheim’s price target suggests a potential downside of 46.19% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. HSBC increased their price target on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Thursday, July 11th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $203.03.

Tesla Price Performance

Shares of Tesla stock traded down $2.49 on Tuesday, reaching $249.02. The stock had a trading volume of 10,095,659 shares, compared to its average volume of 100,038,586. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a market cap of $794.17 billion, a P/E ratio of 64.88, a price-to-earnings-growth ratio of 5.97 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $201.71 and its two-hundred day moving average is $190.94.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, research analysts anticipate that Tesla will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank Hapoalim BM bought a new position in shares of Tesla during the 2nd quarter valued at approximately $259,000. Elser Financial Planning Inc bought a new position in shares of Tesla during the 2nd quarter valued at approximately $247,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Tesla by 242.9% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 34,184 shares of the electric vehicle producer’s stock valued at $6,764,000 after acquiring an additional 24,214 shares during the last quarter. Prossimo Advisors LLC boosted its position in shares of Tesla by 20.5% during the 2nd quarter. Prossimo Advisors LLC now owns 3,022 shares of the electric vehicle producer’s stock valued at $598,000 after acquiring an additional 515 shares during the last quarter. Finally, XML Financial LLC boosted its position in shares of Tesla by 3.0% during the 2nd quarter. XML Financial LLC now owns 5,964 shares of the electric vehicle producer’s stock valued at $1,180,000 after acquiring an additional 174 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Company Profile

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.