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

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

TSLA has been the topic of several other reports. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Stifel Nicolaus started coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Monday, October 7th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Price Performance

TSLA stock opened at $220.89 on Thursday. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $227.25 and its 200-day simple moving average is $204.80. The stock has a market capitalization of $705.66 billion, a price-to-earnings ratio of 62.05, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released 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 analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Equities research analysts expect that Tesla will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Integris Wealth Management LLC increased its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc increased its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co increased its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC increased its holdings in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. 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.