Tesla (NASDAQ:TSLA) Downgraded to Neutral at New Street Research

New Street Research lowered shares of Tesla (NASDAQ:TSLA) from a buy rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm currently has $225.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Bank of America raised shares of Tesla from a neutral rating to a buy rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. TD Cowen increased their price target on Tesla from $160.00 to $180.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. Wedbush restated an outperform rating and set a $300.00 price objective on shares of Tesla in a research report on Thursday, July 11th. Canaccord Genuity Group increased their target price on Tesla from $222.00 to $254.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Tesla from $130.00 to $115.00 and set an underweight rating for the company in a report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $204.30.

Tesla Stock Down 0.2 %

Shares of Tesla stock opened at $219.80 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $205.68 and a 200 day moving average price of $190.93. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The firm has a market cap of $702.18 billion, a P/E ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $0.78 earnings per share. On average, sell-side analysts forecast that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Integris Wealth Management LLC grew 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 buying an additional 42 shares in the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co grew its position in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. Cypress Capital Group increased its stake in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in shares of Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors 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.