Tesla (NASDAQ:TSLA) Stock Rating Lowered by Phillip Securities

Phillip Securities lowered shares of Tesla (NASDAQ:TSLA) from a moderate sell rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $228.24.

Tesla Price Performance

NASDAQ:TSLA traded up $11.16 during mid-day trading on Wednesday, reaching $322.34. The stock had a trading volume of 57,360,035 shares, compared to its average volume of 95,770,594. The stock has a 50-day simple moving average of $250.10 and a two-hundred day simple moving average of $219.58. The stock has a market capitalization of $1.03 trillion, a PE ratio of 87.15, a P/E/G ratio of 10.73 and a beta of 2.29. Tesla has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that Tesla will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,797 shares of company stock valued at $57,616,781. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of the business. Connable Office Inc. grew its position in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. lifted its stake in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners lifted its stake in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the last quarter. Integris Wealth Management LLC lifted its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.