Tesla (NASDAQ:TSLA) PT Lowered to $120.00

Tesla (NASDAQ:TSLA) had its price objective reduced by research analysts at HSBC from $138.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “reduce” rating on the electric vehicle producer’s stock. HSBC’s price objective indicates a potential downside of 25.36% from the company’s previous close.

Several other brokerages have also recently issued reports on TSLA. The Goldman Sachs Group cut their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft cut Tesla from a “buy” rating to a “hold” rating and cut their target price for the stock from $189.00 to $123.00 in a research note on Thursday, April 18th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $186.22.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $16.09 during trading on Wednesday, reaching $160.77. 150,564,660 shares of the stock were exchanged, compared to its average volume of 102,586,273. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The firm has a market cap of $512.02 billion, a PE ratio of 37.41, a PEG ratio of 3.75 and a beta of 2.39. The stock has a 50-day moving average price of $176.81 and a 200-day moving average price of $209.24. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. Research analysts expect that Tesla will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC purchased a new stake in Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV increased its stake in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. 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.