Tesla (NASDAQ:TSLA) Lowered to “Strong Sell” Rating 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 released on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on TSLA. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Guggenheim upped their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Truist Financial increased their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $228.24.

Tesla Trading Up 3.6 %

TSLA traded up $11.16 during midday trading on Wednesday, hitting $322.34. 57,360,035 shares of the company were exchanged, compared to its average volume of 95,770,594. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average price is $250.10 and its 200-day moving average price is $219.58. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 87.15, a P/E/G ratio of 10.73 and a beta of 2.29. Tesla has a 1-year low of $138.80 and a 1-year high of $358.64.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. As a group, equities analysts forecast that Tesla will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of TSLA. Connable Office Inc. boosted its holdings in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. boosted its position in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners increased 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 valued at $1,061,000 after acquiring an additional 40 shares during the period. 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 purchasing an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc boosted its holdings 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 worth $800,000 after acquiring an additional 43 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.