Tesla’s (TSLA) Weight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their weight rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Thursday morning, Briefing.com Automated Import reports.

Several other analysts have also issued reports on the company. Nord/LB restated a sell rating and issued a $200.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Cowen set a $140.00 price objective on Tesla and gave the company a sell rating in a research note on Monday. CIBC dropped their price objective on Tesla from $437.00 to $356.00 and set an outperform rating on the stock in a research note on Thursday, July 25th. Piper Jaffray Companies set a $386.00 price objective on Tesla and gave the company a buy rating in a research note on Thursday, September 26th. Finally, Barclays restated an underweight rating and issued a $150.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Eighteen analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $267.21.

NASDAQ TSLA traded down $1.60 during trading hours on Thursday, hitting $231.43. 3,940,985 shares of the company traded hands, compared to its average volume of 9,124,820. The business’s 50-day moving average is $230.43 and its 200-day moving average is $236.31. Tesla has a twelve month low of $176.99 and a twelve month high of $379.49. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a market capitalization of $41.47 billion, a price-to-earnings ratio of -40.46 and a beta of 0.52.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the company posted ($3.06) earnings per share. The business’s revenue for the quarter was up 58.7% on a year-over-year basis. Analysts predict that Tesla will post -7.51 EPS for the current year.

In other news, Director Kathleen Wilson-Thompson bought 360 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $221.71 per share, for a total transaction of $79,815.60. Following the completion of the purchase, the director now owns 360 shares in the company, valued at $79,815.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $230.45, for a total value of $3,456,750.00. Following the transaction, the insider now owns 287,723 shares in the company, valued at approximately $66,305,765.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,450 shares of company stock worth $3,565,073. 24.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TSLA. Clarus Wealth Advisors increased its stake in Tesla by 83.3% during the 2nd quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 50 shares during the period. Trustcore Financial Services LLC increased its stake in Tesla by 121.8% during the 2nd quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 67 shares during the period. AllSquare Wealth Management LLC bought a new position in Tesla during the 2nd quarter worth $28,000. Bedel Financial Consulting Inc. increased its stake in Tesla by 197.7% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 85 shares during the period. Finally, HM Payson & Co. bought a new position in Tesla during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 54.42% 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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