Tesla Inc. (NASDAQ:TSLA)‘s stock had its “overweight” rating reissued by Piper Jaffray Companies in a research report issued to clients and investors on Thursday. They currently have a $386.00 price objective on the electric vehicle producer’s stock. Piper Jaffray Companies’ target price points to a potential upside of 5.69% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective on the stock in a report on Tuesday, April 25th. Guggenheim reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Tesla in a report on Wednesday, April 19th. Dougherty & Co reaffirmed a “buy” rating and issued a $375.00 price objective (down previously from $500.00) on shares of Tesla in a report on Wednesday, April 26th. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Finally, Global Equities Research reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Tesla in a report on Tuesday, June 13th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $309.81.

Shares of Tesla (NASDAQ TSLA) traded up 2.83% during mid-day trading on Thursday, hitting $365.22. The stock had a trading volume of 7,449,837 shares. The firm’s market cap is $60.34 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The firm has a 50 day moving average price of $346.20 and a 200 day moving average price of $302.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 17.71% and a negative net margin of 7.61%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company earned ($1.06) EPS. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. Equities analysts predict that Tesla will post ($6.23) EPS for the current year.

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In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the company. North Star Investment Management Corp. boosted its stake in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the period. Cornerstone Advisors Inc. boosted its position in Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after buying an additional 9 shares during the last quarter. Clarius Group LLC boosted its position in Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock worth $1,287,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock worth $282,000 after buying an additional 20 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its position in Tesla by 1.7% in the second quarter. WASHINGTON TRUST Co now owns 1,178 shares of the electric vehicle producer’s stock worth $426,000 after buying an additional 20 shares during the last quarter. 63.71% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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