Tesla’s (TSLA) Neutral Rating Reiterated at Morgan Stanley

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating restated by Morgan Stanley in a report released on Wednesday, Borsen Zeitung reports. They currently have a $230.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s target price suggests a potential upside of 7.64% from the stock’s previous close.

Several other brokerages also recently commented on TSLA. ValuEngine downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, February 15th. BidaskClub downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Canaccord Genuity set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Tuesday, February 26th. Sanford C. Bernstein restated a “neutral” rating and set a $325.00 price objective on shares of Tesla in a research report on Friday, March 1st. Finally, Goldman Sachs Group restated a “sell” rating and set a $210.00 price objective on shares of Tesla in a research report on Friday, March 1st. Seventeen investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $292.12.

TSLA traded up $4.41 on Wednesday, hitting $213.67. The company’s stock had a trading volume of 7,975,445 shares, compared to its average volume of 13,496,910. The company has a market cap of $37.71 billion, a PE ratio of -37.35 and a beta of 0.49. Tesla has a 12 month low of $176.99 and a 12 month high of $387.46. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the business earned ($3.35) earnings per share. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. Research analysts forecast that Tesla will post -4.64 earnings per share for the current fiscal year.

In other Tesla news, CEO Elon Musk acquired 102,880 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $243.00 per share, with a total value of $24,999,840.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $267.50, for a total transaction of $4,012,500.00. Following the sale, the insider now directly owns 306,748 shares in the company, valued at approximately $82,055,090. The disclosure for this sale can be found here. Insiders have sold a total of 134,086 shares of company stock worth $29,968,066 in the last ninety days. Insiders own 22.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of TSLA. Mackey Komara & Dankovich LLC raised its holdings in Tesla by 493.3% in the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 74 shares during the last quarter. Sontag Advisory LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in Tesla during the first quarter valued at approximately $28,000. Financial Gravity Companies Inc. purchased a new stake in Tesla during the fourth quarter valued at approximately $32,000. Finally, Legacy Advisors LLC purchased a new stake in Tesla during the first quarter valued at approximately $32,000. 55.69% of the stock is owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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