Tesla (NASDAQ:TSLA) Given Sell Rating at Glj Research

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by analysts at Glj Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $24.86 price objective on the electric vehicle producer’s stock. Glj Research’s price objective points to a potential downside of 90.46% from the stock’s previous close.

TSLA has been the topic of a number of other reports. Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. HSBC raised their price objective on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Guggenheim increased their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Stifel Nicolaus began coverage on shares of Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective for the company. Finally, Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $209.90.

Tesla Price Performance

Tesla stock opened at $260.46 on Thursday. The stock has a market cap of $832.08 billion, a price-to-earnings ratio of 65.21, a price-to-earnings-growth ratio of 6.92 and a beta of 2.29. The firm has a 50-day moving average of $221.47 and a two-hundred day moving average of $197.95. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts forecast that Tesla will post 1.75 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction 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 $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 over the last three months. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of large investors have recently made changes to their positions in the stock. Bank & Trust Co purchased a new position in Tesla during the second quarter worth about $25,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the second 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. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter valued at $37,000. Finally, Guardian Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter worth $47,000. 66.20% of the stock is currently 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.