Tesla (NASDAQ:TSLA) Rating Reiterated by Cantor Fitzgerald

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $245.00 price target on the electric vehicle producer’s stock. Cantor Fitzgerald’s price target would suggest a potential downside of 3.65% from the stock’s current price.

TSLA has been the subject of a number of other research reports. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. HSBC boosted their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

TSLA opened at $254.27 on Monday. The business’s 50-day moving average price is $221.20 and its two-hundred day moving average price is $197.14. Tesla has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a market capitalization of $810.92 billion, a price-to-earnings ratio of 64.86, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Equities analysts expect that Tesla will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. bought a new position in Tesla in the 4th quarter valued at $47,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.