Tesla (NASDAQ:TSLA) Given “Buy” Rating at New Street Research

New Street Research reiterated their buy rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Tuesday morning, Benzinga reports. New Street Research currently has a $235.00 price objective on the electric vehicle producer’s stock.

Several other analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on Tesla from $125.00 to $120.00 and set an underweight rating on the stock in a research note on Friday, April 12th. Citigroup reissued a neutral rating on shares of Tesla in a report on Wednesday, June 12th. Barclays dropped their target price on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Morgan Stanley reissued an overweight rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, June 20th. Finally, Robert W. Baird reissued an outperform rating and issued a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of Hold and an average target price of $187.30.

Tesla Stock Up 0.5 %

Shares of NASDAQ TSLA opened at $197.42 on Tuesday. The stock has a market cap of $629.61 billion, a P/E ratio of 49.98, a PEG ratio of 4.65 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The business’s fifty day simple moving average is $175.83 and its 200-day simple moving average is $192.28.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, equities analysts predict that Tesla will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last three months, insiders sold 104,855 shares of company stock valued at $19,285,643. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.