KGI Securities Reaffirms Neutral Rating for Tesla (NASDAQ:TSLA)

KGI Securities reissued their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research report released on Thursday morning, Benzinga reports. They currently have a $236.00 target price on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. Roth Mkm reaffirmed a neutral rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Truist Financial upped their price target on shares of Tesla from $162.00 to $215.00 and gave the company a hold rating in a report on Wednesday, July 24th. UBS Group lowered shares of Tesla from a neutral rating to a sell rating and upped their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. TD Cowen upped their price target on shares of Tesla from $160.00 to $180.00 and gave the company a hold rating in a report on Wednesday, July 3rd. Finally, Sanford C. Bernstein reissued an underperform rating and set a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $204.30.

Tesla Price Performance

Shares of TSLA opened at $219.80 on Thursday. The firm has a market capitalization of $702.18 billion, a PE ratio of 56.07, a price-to-earnings-growth ratio of 5.49 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The company’s fifty day moving average price is $205.68 and its 200-day moving average price is $190.62.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Tesla will post 1.79 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lam Group Inc. purchased a new position in Tesla in the 4th quarter valued at approximately $25,000. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter valued at $37,000. Finally, Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 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.