Tesla (NASDAQ:TSLA) Stock Rating Lowered by Phillip Securities

Tesla (NASDAQ:TSLA) was downgraded by equities researchers at Phillip Securities from a “moderate sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

TSLA has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $228.24.

Tesla Stock Up 2.9 %

Shares of NASDAQ TSLA traded up $9.06 during mid-day trading on Wednesday, reaching $320.24. 66,397,164 shares of the company’s stock were exchanged, compared to its average volume of 95,788,797. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.15, a PEG ratio of 10.73 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $250.10 and a 200 day simple moving average of $219.58. Tesla has a twelve month low of $138.80 and a twelve month high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management grew its position in shares of Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the last quarter. Savvy Advisors Inc. grew its position in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Tesla by 19.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after purchasing an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 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.