Glj Research Reiterates “Sell” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by investment analysts at Glj Research in a report issued on Thursday, Benzinga reports. They currently have a $24.86 price objective on the electric vehicle producer’s stock. Glj Research’s price target would suggest a potential downside of 90.46% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. HSBC upped their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $209.90.

Tesla Trading Up 2.5 %

Tesla stock opened at $260.46 on Thursday. The stock has a market cap of $832.08 billion, a P/E ratio of 65.21, a PEG ratio of 6.92 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm’s fifty day moving average price is $221.47 and its 200-day moving average price is $197.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during 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%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts forecast that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last 90 days. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the business. DDFG Inc raised its holdings in Tesla by 7.1% during the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the period. Vantage Financial Partners LLC raised its holdings in shares of Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after acquiring an additional 346 shares in the last quarter. Gilbert & Cook Inc. lifted its position in Tesla by 8.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC raised its position in Tesla by 1.1% during the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after purchasing an additional 69 shares during the period. Finally, Rollins Financial lifted its position in Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after buying an additional 11,191 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.