BidaskClub Lowers Tesla (TSLA) to Sell

BidaskClub downgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

TSLA has been the subject of a number of other research reports. Barclays set a $192.00 price objective on Tesla and gave the stock a sell rating in a report on Tuesday, April 9th. TheStreet cut Tesla from a c- rating to a d+ rating in a report on Monday, April 29th. CIBC restated an outperform rating and set a $437.00 price objective (up previously from $418.00) on shares of Tesla in a report on Thursday, January 31st. Goldman Sachs Group restated a sell rating and set a $210.00 price objective on shares of Tesla in a report on Friday, March 1st. Finally, Jefferies Financial Group set a $450.00 price objective on Tesla and gave the stock a buy rating in a report on Thursday, January 31st. Seventeen analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $292.00.

Shares of NASDAQ TSLA opened at $205.08 on Tuesday. The company has a market cap of $36.66 billion, a price-to-earnings ratio of -35.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.42 and a current ratio of 0.83. Tesla has a twelve month low of $195.25 and a twelve month high of $387.46.



Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.51) by ($1.59). Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned ($3.35) EPS. The company’s revenue was up 33.2% on a year-over-year basis. On average, analysts anticipate that Tesla will post -4.64 earnings per share for the current fiscal year.

In related news, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $285.46, for a total value of $4,790,018.80. Following the completion of the sale, the director now directly owns 16,792 shares in the company, valued at $4,793,444.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brad W. Buss sold 38,540 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $228.37, for a total value of $8,801,379.80. Following the completion of the sale, the director now owns 34,874 shares of the company’s stock, valued at $7,964,175.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,100 shares of company stock valued at $30,574,286. 22.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vista Capital Partners Inc. acquired a new position in Tesla during the fourth quarter valued at approximately $241,000. Quantamental Technologies LLC acquired a new position in Tesla during the first quarter valued at approximately $92,000. Berkshire Capital Holdings Inc. raised its position in Tesla by 371,900.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 18,600 shares of the electric vehicle producer’s stock valued at $6,190,000 after purchasing an additional 18,595 shares in the last quarter. Private Ocean LLC raised its position in Tesla by 1,413.3% during the first quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock valued at $64,000 after purchasing an additional 212 shares in the last quarter. Finally, Grimes & Company Inc. raised its position in Tesla by 4.6% during the fourth quarter. Grimes & Company Inc. now owns 1,171 shares of the electric vehicle producer’s stock valued at $390,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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