Guggenheim Reiterates Sell Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “sell” rating reaffirmed by Guggenheim in a research note issued on Tuesday, Benzinga reports. They presently have a $122.00 price target on the electric vehicle producer’s stock. Guggenheim’s target price would indicate a potential downside of 24.75% from the company’s current price.

TSLA has been the topic of several other reports. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Citigroup lowered their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Truist Financial lowered their price target on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $186.22.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $162.13 on Tuesday. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The business has a 50-day moving average of $176.28 and a two-hundred day moving average of $208.91. The stock has a market capitalization of $516.35 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.75 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

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

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently modified their holdings of the stock. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter worth about $25,000. Lam Group Inc. bought a new stake in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV boosted its stake in Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in Tesla during the fourth quarter worth about $37,000. Institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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.