Tesla’s (TSLA) “Sell” Rating Reaffirmed at Guggenheim

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reiterated by equities research analysts at Guggenheim in a report issued on Wednesday,Benzinga reports. They currently have a $175.00 price target on the electric vehicle producer’s stock. Guggenheim’s price objective would suggest a potential downside of 55.06% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on TSLA. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Wedbush increased their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Price Performance

Shares of TSLA stock traded down $8.72 during mid-day trading on Wednesday, hitting $389.37. 18,681,897 shares of the stock were exchanged, compared to its average volume of 71,007,664. Tesla has a 52-week low of $138.80 and a 52-week high of $488.54. 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 company has a market cap of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The firm has a fifty day moving average of $401.04 and a 200 day moving average of $296.63.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last three months. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth about $35,000. M&R Capital Management Inc. lifted its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.