Tesla (NASDAQ:TSLA) Given “Sell” Rating at Glj Research

Glj Research reissued their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Friday,Benzinga reports.

Several other equities research analysts have also recently weighed in on TSLA. JPMorgan Chase & Co. boosted their target price on Tesla from $415.00 to $430.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Yorkville Ives initiated coverage on shares of Tesla in a research note on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price target on the stock. Wells Fargo & Company restated a “buy” rating on shares of Tesla in a research report on Thursday, October 1st. CLSA reissued an “underperform” rating on shares of Tesla in a research note on Monday, October 26th. Finally, Royal Bank Of Canada lowered Tesla from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $414.51.

Tesla Trading Down 1.8%

Shares of TSLA stock opened at $390.22 on Friday. Tesla has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The company has a 50 day moving average price of $374.75 and a 200 day moving average price of $383.05. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 428.82, a price-to-earnings-growth ratio of 24.62 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts predict that Tesla will post 0.67 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the sale, the chief financial officer directly owned 25,972 shares in the company, valued at approximately $9,353,296.36. This trade represents a 9.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in TSLA. Bamco Inc. NY lifted its holdings in shares of Tesla by 5.0% during the second quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after purchasing an additional 591,243 shares during the period. One Plus One Wealth Management LLC bought a new position in shares of Tesla during the 2nd quarter valued at approximately $1,009,000. Bessemer Group Inc. increased its holdings in Tesla by 23.6% in the 1st quarter. Bessemer Group Inc. now owns 56,240 shares of the electric vehicle producer’s stock worth $20,908,000 after acquiring an additional 10,747 shares during the last quarter. H&H International Investment LLC purchased a new stake in shares of Tesla in the first quarter worth about $1,267,259,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Tesla by 12.4% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 43,600 shares of the electric vehicle producer’s stock valued at $15,470,000 after purchasing an additional 4,806 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Trending Headlines about Tesla

These are some of the TSLA headlines that stood out recently:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Tesla Company Profile

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.