Tesla Motors Inc. (TSLA) Lowered to Hold at Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $213.40 price target on the electric vehicle producer’s stock. Vetr‘s price target would suggest a potential downside of 0.14% from the stock’s current price.
A number of other research firms have also recently issued reports on TSLA. Robert W. Baird reissued a “buy” rating and set a $338.00 price objective on shares of Tesla Motors in a research report on Monday, August 1st. Zacks Investment Research cut shares of Tesla Motors from a “hold” rating to a “sell” rating in a research report on Wednesday, June 8th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Tesla Motors in a research report on Friday, August 5th. Piper Jaffray Cos. began coverage on shares of Tesla Motors in a research report on Thursday, June 9th. They set a “neutral” rating and a $223.00 price objective on the stock. Finally, RBC Capital Markets set a $210.00 price objective on shares of Tesla Motors and gave the stock a “hold” rating in a research report on Thursday, July 21st. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $248.49.
Shares of Tesla Motors (NASDAQ:TSLA) traded up 4.74% during mid-day trading on Monday, hitting $213.70. The stock had a trading volume of 5,999,892 shares. The company’s market cap is $31.78 billion. The firm’s 50 day moving average price is $209.48 and its 200 day moving average price is $222.41. Tesla Motors has a 1-year low of $141.05 and a 1-year high of $269.34.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted ($0.48) earnings per share. The business’s revenue was up 30.5% on a year-over-year basis. Analysts predict that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its position in Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock valued at $1,038,976,000 after buying an additional 578,459 shares during the last quarter. Bloom Tree Partners LLC purchased a new position in shares of Tesla Motors during the first quarter valued at approximately $59,515,000. State Treasurer State of Michigan increased its position in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock valued at $72,095,000 after buying an additional 234,802 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. purchased a new position in shares of Tesla Motors during the second quarter valued at approximately $40,596,000. Institutional investors and hedge funds own 66.62% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
To view Vetr’s full report, visit Vetr’s official website.
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