Tesla (NASDAQ:TSLA) Given Sell Rating at Guggenheim

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating restated by investment analysts at Guggenheim in a research note issued on Monday, Benzinga reports. They currently have a $125.00 target price on the electric vehicle producer’s stock. Guggenheim’s price target suggests a potential downside of 53.26% from the company’s current price.

TSLA has been the subject of several other research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $150.00 target price on shares of Tesla in a research note on Thursday, July 20th. Bank of America upped their price target on shares of Tesla from $225.00 to $300.00 in a report on Thursday, July 6th. DZ Bank cut shares of Tesla from a “buy” rating to a “sell” rating and set a $210.00 target price for the company. in a report on Friday, June 23rd. Mizuho lifted their price target on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $239.43.

Tesla Stock Performance

TSLA traded down $6.97 during trading hours on Monday, hitting $267.42. The company’s stock had a trading volume of 58,416,715 shares, compared to its average volume of 144,352,047. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. Tesla has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The company has a 50-day simple moving average of $255.83 and a 200 day simple moving average of $220.81. The firm has a market capitalization of $848.79 billion, a PE ratio of 75.76, a PEG ratio of 4.30 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter last year, the company earned $0.65 EPS. Tesla’s quarterly revenue was up 47.2% on a year-over-year basis. As a group, sell-side analysts expect that Tesla will post 2.94 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,249,350.42. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock valued at $14,384,135 over the last 90 days. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CJM Wealth Advisers Ltd. lifted its position in shares of Tesla by 23.9% in the 2nd quarter. CJM Wealth Advisers Ltd. now owns 1,839 shares of the electric vehicle producer’s stock worth $481,000 after acquiring an additional 355 shares during the period. IMS Capital Management acquired a new position in shares of Tesla in the second quarter valued at $608,000. CGC Financial Services LLC bought a new position in Tesla in the second quarter worth $283,000. Farther Finance Advisors LLC boosted its stake in Tesla by 15.9% during the second quarter. Farther Finance Advisors LLC now owns 10,796 shares of the electric vehicle producer’s stock worth $2,826,000 after buying an additional 1,482 shares in the last quarter. Finally, Prosperity Wealth Management Inc. increased its holdings in Tesla by 579.0% in the 2nd quarter. Prosperity Wealth Management Inc. now owns 2,329 shares of the electric vehicle producer’s stock valued at $610,000 after buying an additional 1,986 shares during the period. 41.87% of the stock is currently owned by institutional investors and hedge funds.

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. It 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, retail merchandise, and vehicle insurance services.