Tesla (NASDAQ:TSLA) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Tesla (NASDAQ:TSLA) in a research note published on Tuesday, Benzinga reports. They currently have a $245.00 price objective on the electric vehicle producer’s stock.

A number of other research firms also recently weighed in on TSLA. Truist Financial reaffirmed a hold rating and set a $215.00 price objective on shares of Tesla in a report on Wednesday, August 14th. William Blair assumed coverage on Tesla in a research note on Thursday, August 29th. They issued an outperform rating on the stock. The Goldman Sachs Group dropped their price objective on Tesla from $248.00 to $230.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an equal weight rating on the stock in a research note on Thursday, July 25th. Finally, Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a neutral rating for the company in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of Hold and an average price target of $204.21.

Tesla Stock Down 8.4 %

Shares of TSLA stock opened at $210.73 on Tuesday. Tesla has a one year low of $138.80 and a one year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a fifty day moving average price of $224.47 and a 200 day moving average price of $193.60. The stock has a market cap of $673.21 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts predict that Tesla will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

A number of large investors have recently made changes to their positions in TSLA. Integris Wealth Management LLC raised its position in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC increased its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co raised its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC lifted its stake in Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group boosted its holdings in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares during the period. 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.