Tesla’s (TSLA) Outperform Rating Reaffirmed at Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by Wedbush in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $550.00 price target on the electric vehicle producer’s stock. Wedbush’s target price indicates a potential upside of 94.34% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Mizuho lowered their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Finally, Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $319.12.

Tesla Trading Up 4.0 %

Shares of TSLA traded up $10.95 during trading hours on Thursday, reaching $283.01. 34,899,385 shares of the company traded hands, compared to its average volume of 91,825,229. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $327.40 and its two-hundred day moving average price is $321.69. The company has a market capitalization of $910.30 billion, a price-to-earnings ratio of 138.77, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last 90 days. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Avant Financial Advisors LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $519,000. Fire Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $5,424,000. Fulcrum Equity Management raised its stake in shares of Tesla by 4.7% in the 4th quarter. Fulcrum Equity Management now owns 1,103 shares of the electric vehicle producer’s stock valued at $445,000 after acquiring an additional 50 shares during the period. M1 Capital Management LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $863,000. Finally, Chancellor Financial Group WB LP acquired a new stake in Tesla in the 4th quarter valued at approximately $577,000. 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.