Tesla (NASDAQ:TSLA) Downgraded by Morgan Stanley to Sell

Morgan Stanley lowered shares of Tesla (NASDAQ:TSLA) to a sell rating in a research note released on Tuesday, TipRanks reports. They currently have $650.00 target price on the electric vehicle producer’s stock.

A number of other equities analysts have also recently weighed in on TSLA. Piper Sandler lifted their price target on Tesla from $819.00 to $939.00 and gave the stock an overweight rating in a research note on Thursday, April 30th. Daiwa Capital Markets initiated coverage on Tesla in a research note on Friday, May 29th. They issued an outperform rating and a $910.00 price target on the stock. Credit Suisse Group lifted their price target on Tesla from $580.00 to $700.00 and gave the stock a neutral rating in a research note on Thursday, April 30th. Wedbush lifted their price target on Tesla from $800.00 to $1,000.00 and gave the stock a neutral rating in a research note on Wednesday, June 10th. Finally, Royal Bank of Canada lifted their price target on Tesla from $380.00 to $615.00 and gave the stock an underperform rating in a research note on Thursday, April 30th. Eleven investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. Tesla presently has a consensus rating of Hold and a consensus target price of $622.06.

Shares of Tesla stock opened at $1,079.81 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.87 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $895.52 and its two-hundred day moving average price is $676.46. Tesla has a 52 week low of $211.00 and a 52 week high of $1,027.48. The stock has a market cap of $200.16 billion, a PE ratio of -1,213.27 and a beta of 1.14.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, topping the consensus estimate of ($0.36) by $1.60. Tesla had a negative net margin of 0.55% and a negative return on equity of 1.86%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the business earned ($2.90) earnings per share. Tesla’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts predict that Tesla will post -0.56 EPS for the current fiscal year.

In related news, SVP Andrew D. Baglino sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $623.63, for a total value of $187,089.00. Following the completion of the sale, the senior vice president now directly owns 4,445 shares in the company, valued at approximately $2,772,035.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $785.75, for a total value of $1,571,500.00. Following the completion of the sale, the senior vice president now owns 6,145 shares of the company’s stock, valued at $4,828,433.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,198 shares of company stock valued at $15,698,572. 23.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC lifted its holdings in Tesla by 5.1% in the 1st quarter. Pathstone Family Office LLC now owns 309 shares of the electric vehicle producer’s stock worth $162,000 after purchasing an additional 15 shares during the last quarter. Hayden Royal LLC acquired a new stake in Tesla in the 1st quarter worth approximately $419,000. Telemus Capital LLC acquired a new stake in Tesla in the 1st quarter worth approximately $900,000. Tredje AP fonden lifted its holdings in Tesla by 122.1% in the 1st quarter. Tredje AP fonden now owns 18,178 shares of the electric vehicle producer’s stock worth $9,525,000 after purchasing an additional 9,994 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Tesla by 28.2% in the 1st quarter. Coldstream Capital Management Inc. now owns 1,568 shares of the electric vehicle producer’s stock worth $822,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 50.40% 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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