Tesla (NASDAQ:TSLA) received a $220.00 price target from equities researchers at JPMorgan Chase & Co. in a report released on Thursday, January 3rd. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 36.65% from the company’s current price.
Several other research analysts have also commented on the company. Citigroup lowered Tesla from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $356.00 to $225.00 in a report on Friday, September 28th. Goldman Sachs Group set a $210.00 price target on Tesla and gave the company a “sell” rating in a research note on Wednesday, October 3rd. Sanford C. Bernstein set a $325.00 price objective on Tesla and gave the company a “neutral” rating in a research note on Friday, September 28th. ValuEngine upgraded Tesla from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, Jefferies Financial Group upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $360.00 to $450.00 in a research note on Friday, December 7th. Twelve equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tesla presently has a consensus rating of “Hold” and an average price target of $324.77.
Tesla stock opened at $347.26 on Thursday. Tesla has a fifty-two week low of $244.59 and a fifty-two week high of $387.46. The stock has a market cap of $58.14 billion, a price-to-earnings ratio of -30.25, a PEG ratio of 5.18 and a beta of 0.57. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 1.82.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, topping the consensus estimate of ($1.77) by $4.67. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $5.67 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. On average, research analysts forecast that Tesla will post -5.21 earnings per share for the current year.
In related news, Director Antonio J. Gracias sold 8,390 shares of Tesla stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $317.58, for a total transaction of $2,664,496.20. Following the completion of the transaction, the director now directly owns 24,332 shares in the company, valued at approximately $7,727,356.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elon Musk acquired 29,844 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were bought at an average price of $334.98 per share, with a total value of $9,997,143.12. The disclosure for this purchase can be found here. Insiders have sold a total of 64,590 shares of company stock worth $21,435,806 in the last three months. Corporate insiders own 22.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TSLA. First Hawaiian Bank boosted its position in Tesla by 205.0% during the 4th quarter. First Hawaiian Bank now owns 305 shares of the electric vehicle producer’s stock worth $102,000 after purchasing an additional 205 shares during the period. Honkamp Krueger Financial Services Inc. purchased a new position in Tesla in the 3rd quarter valued at about $122,000. Belpointe Asset Management LLC purchased a new position in Tesla in the 3rd quarter valued at about $131,000. Destination Wealth Management boosted its position in Tesla by 156.0% in the 3rd quarter. Destination Wealth Management now owns 512 shares of the electric vehicle producer’s stock valued at $136,000 after buying an additional 312 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC boosted its position in Tesla by 120.0% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the electric vehicle producer’s stock valued at $146,000 after buying an additional 300 shares during the last quarter. 59.29% of the stock is owned by hedge funds and other institutional investors.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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