BidaskClub upgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a buy rating in a research report released on Saturday.

Other equities analysts have also issued reports about the company. Piper Jaffray Companies set a $389.00 price objective on Tesla and gave the stock a buy rating in a research note on Thursday, August 2nd. Nomura reiterated a buy rating and issued a $450.00 price objective on shares of Tesla in a research note on Thursday, August 2nd. Berenberg Bank reiterated a buy rating and issued a $500.00 price objective on shares of Tesla in a research note on Wednesday, August 8th. Oppenheimer reiterated a buy rating and issued a $385.00 price objective on shares of Tesla in a research note on Monday, August 20th. Finally, ValuEngine upgraded Tesla from a hold rating to a buy rating in a research note on Tuesday, September 4th. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $319.79.

Tesla stock opened at $347.49 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.81. The stock has a market capitalization of $60.85 billion, a PE ratio of -30.27 and a beta of 0.48. Tesla has a 52 week low of $244.59 and a 52 week high of $387.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of ($1.77) by $4.67. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. Analysts anticipate that Tesla will post -5.09 EPS for the current year.

In related news, CEO Elon Musk acquired 29,844 shares of the stock in a transaction dated Monday, October 29th. The shares were bought at an average cost of $334.98 per share, for a total transaction of $9,997,143.12. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $306,000.00. Following the completion of the sale, the insider now owns 8,598 shares in the company, valued at $2,630,988. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,375 shares of company stock worth $8,668,760. Corporate insiders own 22.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $122,000. BerganKDV Wealth Management LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $124,000. Destination Wealth Management grew its stake in shares of Tesla by 156.0% in the 3rd quarter. Destination Wealth Management now owns 512 shares of the electric vehicle producer’s stock valued at $136,000 after purchasing an additional 312 shares during the period. Paradigm Asset Management Co. LLC grew its stake in shares of Tesla by 120.0% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the electric vehicle producer’s stock valued at $146,000 after purchasing an additional 300 shares during the period. Finally, Proffitt & Goodson Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $147,000. Institutional investors own 54.98% of the company’s stock.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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