Tesla (NASDAQ:TSLA) Given a $189.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $189.00 price objective on Tesla (NASDAQ:TSLA) in a research note published on Friday morning, Borsen Zeitung reports. The firm currently has a sell rating on the electric vehicle producer’s stock.

TSLA has been the topic of several other reports. Needham & Company LLC reiterated an underperform rating on shares of Tesla in a research note on Thursday. Nord/LB reiterated a sell rating and issued a $200.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Berenberg Bank reiterated a buy rating on shares of Tesla in a research note on Friday, June 14th. BNP Paribas started coverage on Tesla in a research note on Wednesday. They issued an outperform rating on the stock. Finally, Bank of America set a $225.00 price objective on Tesla and gave the company a sell rating in a research note on Wednesday, July 3rd. Eighteen investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $267.21.

Shares of NASDAQ TSLA traded down $1.60 during mid-day trading on Friday, hitting $231.43. The company had a trading volume of 7,898,880 shares, compared to its average volume of 9,124,820. The company has a market capitalization of $41.46 billion, a PE ratio of -40.46 and a beta of 0.52. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. Tesla has a 1-year low of $176.99 and a 1-year high of $379.49. The business’s 50-day simple moving average is $230.43 and its 200 day simple moving average is $236.31.

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

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $255.68, for a total value of $38,352.00. Following the sale, the chief financial officer now directly owns 9,962 shares in the company, valued at $2,547,084.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $230.45, for a total value of $3,456,750.00. Following the completion of the sale, the insider now owns 287,723 shares in the company, valued at $66,305,765.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,450 shares of company stock worth $3,565,073. 24.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. increased its position in shares of Tesla by 1.2% during the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock worth $2,996,539,000 after purchasing an additional 165,206 shares in the last quarter. Fort Point Capital Partners LLC increased its position in shares of Tesla by 8.1% during the first quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock worth $465,000 after purchasing an additional 124 shares in the last quarter. DRW Securities LLC increased its position in shares of Tesla by 12.5% during the second quarter. DRW Securities LLC now owns 2,383 shares of the electric vehicle producer’s stock worth $532,000 after purchasing an additional 265 shares in the last quarter. Northern Trust Corp increased its position in shares of Tesla by 1.0% during the first quarter. Northern Trust Corp now owns 924,061 shares of the electric vehicle producer’s stock worth $258,608,000 after purchasing an additional 9,430 shares in the last quarter. Finally, Northstar Group Inc. acquired a new stake in shares of Tesla during the second quarter worth about $308,000. Institutional investors and hedge funds 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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