HSBC Lowers Tesla (NASDAQ:TSLA) Price Target to $120.00

Tesla (NASDAQ:TSLA) had its target price decreased by research analysts at HSBC from $138.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “reduce” rating on the electric vehicle producer’s stock. HSBC’s price target indicates a potential downside of 25.36% from the stock’s current price.

Several other equities research analysts also recently weighed in on TSLA. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Friday, April 19th. Truist Financial cut their price target on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. Barclays cut their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Mizuho cut their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.22.

Tesla Stock Up 11.1 %

Shares of Tesla stock traded up $16.09 on Wednesday, reaching $160.77. 150,564,660 shares of the company were exchanged, compared to its average volume of 102,586,273. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a market cap of $512.02 billion, a P/E ratio of 37.41, a price-to-earnings-growth 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. The stock’s 50 day moving average price is $176.81 and its 200-day moving average price is $209.24.

Tesla (NASDAQ:TSLA) last announced 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 company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities analysts forecast that Tesla will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction 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 the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last three months. 20.90% of the stock is owned by insiders.

Institutional Trading of Tesla

Several hedge funds have recently added to or reduced their stakes in the business. Essex Financial Services Inc. raised its stake in shares of Tesla by 1.6% in the 1st quarter. Essex Financial Services Inc. now owns 30,052 shares of the electric vehicle producer’s stock worth $5,283,000 after buying an additional 482 shares in the last quarter. West Branch Capital LLC raised its stake in shares of Tesla by 189.8% in the 1st quarter. West Branch Capital LLC now owns 2,156 shares of the electric vehicle producer’s stock worth $379,000 after buying an additional 1,412 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Tesla in the 1st quarter worth $565,000. Bell Bank raised its stake in shares of Tesla by 72.2% in the 1st quarter. Bell Bank now owns 7,051 shares of the electric vehicle producer’s stock worth $1,239,000 after buying an additional 2,957 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Tesla during the first quarter worth $319,000. 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.