Tesla (NASDAQ:TSLA) Price Target Cut to $120.00 by Analysts at HSBC

Tesla (NASDAQ:TSLA) had its price target lowered by HSBC from $138.00 to $120.00 in a report published on Wednesday, Benzinga reports. The firm currently has a reduce rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. Mizuho decreased their price target on Tesla from $195.00 to $180.00 and set a neutral rating for the company in a report on Wednesday. Truist Financial reduced their target price on Tesla from $176.00 to $162.00 and set a hold rating for the company in a research note on Wednesday. Roth Mkm restated a neutral rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday. Daiwa Capital Markets downgraded Tesla from an outperform rating to a neutral rating and cut their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Finally, Guggenheim reiterated a sell rating and set a $122.00 price target on shares of Tesla in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $186.70.

Tesla Stock Down 1.1 %

Shares of NASDAQ:TSLA opened at $168.29 on Wednesday. The firm has a market cap of $536.71 billion, a P/E ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29. The business has a fifty day simple moving average of $175.04 and a 200 day simple moving average of $207.61.

Tesla (NASDAQ:TSLA) last announced its 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). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts predict that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new position in Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV grew its position in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter worth $37,000. 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.