Guggenheim Reiterates Sell Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reissued by equities researchers at Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They currently have a $122.00 target price on the electric vehicle producer’s stock. Guggenheim’s target price suggests a potential downside of 24.75% from the company’s current price.

Several other brokerages have also issued reports on TSLA. Sanford C. Bernstein lowered their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. KGI Securities restated a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price on shares of Tesla in a report on Monday. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $186.22.

Tesla Stock Performance

Shares of TSLA stock opened at $162.13 on Tuesday. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $516.35 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 3.75 and a beta of 2.39. The stock’s fifty day simple moving average is $176.28 and its 200-day simple moving average is $208.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, sell-side analysts predict that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last quarter. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC raised its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV raised its position in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter worth $37,000. 66.20% of the stock is owned by 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.