Tesla (NASDAQ:TSLA) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. HSBC reissued a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $243.75.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $3.79 on Monday, hitting $353.30. 10,645,102 shares of the company were exchanged, compared to its average volume of 94,802,445. Tesla has a one year low of $138.80 and a one year high of $361.93. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 97.83, a PEG ratio of 11.21 and a beta of 2.36. The company’s 50 day moving average price is $274.55 and its two-hundred day moving average price is $232.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Tesla will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock valued at $92,956,692. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently bought and sold shares of TSLA. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management boosted its holdings in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after acquiring an additional 4,929 shares during the period. Fred Alger Management LLC raised its holdings in Tesla by 187.0% during the 3rd quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock valued at $189,756,000 after buying an additional 472,565 shares during the last quarter. Finally, Savvy Advisors Inc. raised its stake in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after acquiring an additional 1,467 shares during the last quarter. 66.20% of the stock is currently owned by 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.