Tesla (NASDAQ:TSLA) Earns “Sell” Rating from Glj Research

Glj Research reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $24.86 price objective on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other research reports. Piper Sandler reaffirmed an overweight rating and set a $300.00 target price on shares of Tesla in a research note on Monday, August 19th. The Goldman Sachs Group cut their target price on Tesla from $248.00 to $230.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada cut their target price on Tesla from $227.00 to $224.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. HSBC increased their price objective on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Finally, Barclays dropped their price objective on Tesla from $225.00 to $220.00 and set an equal weight rating on the stock in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $204.21.

Tesla Trading Down 8.4 %

Shares of TSLA stock opened at $210.73 on Thursday. Tesla has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock’s 50 day simple moving average is $224.47 and its two-hundred day simple moving average is $193.60. The company has a market cap of $673.21 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Research analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter worth about $37,000. Finally, Kessler Investment Group LLC lifted its position in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds 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.