Glj Research Reiterates "Sell" Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "sell" rating reissued by equities researchers at Glj Research in a report released on Thursday, Benzinga reports. They presently have a $24.86 target price on the electric vehicle producer's stock. Glj Research's price target indicates a potential downside of 90.22% from the company's previous close.

A number of other research analysts have also commented on the company. Truist Financial reiterated a "hold" rating and issued a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. 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 report on Wednesday, July 24th. William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an "outperform" rating on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $245.00 price target on shares of Tesla in a research note on Monday. Finally, Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $209.90.

Tesla Price Performance

Shares of TSLA traded down $2.80 during trading hours on Thursday, hitting $254.22. The stock had a trading volume of 66,984,819 shares, compared to its average volume of 75,859,952. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a market capitalization of $812.14 billion, a price-to-earnings ratio of 64.85, a P/E/G ratio of 6.92 and a beta of 2.29. The company's fifty day moving average is $221.37 and its two-hundred day moving average is $197.56. 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 - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Tesla will post 1.75 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, 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. In the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 25.10% of the company's stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Clean Energy Transition LLP lifted its holdings in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer's stock valued at $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.