Tesla (NASDAQ:TSLA) PT Set at $190.00 by Royal Bank of Canada

Tesla (NASDAQ:TSLA) has been given a $190.00 target price by stock analysts at Royal Bank of Canada in a research note issued on Friday, TipRanks reports. The brokerage presently has a “sell” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 26.06% from the stock’s current price.

A number of other brokerages have also weighed in on TSLA. Sanford C. Bernstein set a $325.00 price target on shares of Tesla and gave the company a “hold” rating in a research note on Wednesday, August 21st. CIBC decreased their price target on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Wedbush reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Finally, Oppenheimer set a $356.00 price target on shares of Tesla and gave the company a “buy” rating in a research note on Tuesday, October 15th. Eighteen equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $266.35.

Shares of NASDAQ:TSLA traded down $5.02 during trading on Friday, reaching $256.95. 5,631,125 shares of the company’s stock traded hands, compared to its average volume of 8,237,831. Tesla has a fifty-two week low of $176.99 and a fifty-two week high of $379.49. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. The firm has a market cap of $46.93 billion, a PE ratio of -44.92 and a beta of 0.52. The company has a 50-day simple moving average of $238.97 and a 200-day simple moving average of $234.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The company’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.06) earnings per share. On average, equities research analysts forecast that Tesla will post -7.38 EPS for the current year.

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $242.47, for a total value of $36,370.50. Following the transaction, the chief financial officer now directly owns 10,001 shares of the company’s stock, valued at approximately $2,424,942.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $230.45, for a total transaction of $3,456,750.00. Following the sale, the insider now owns 287,723 shares of the company’s stock, valued at approximately $66,305,765.35. The disclosure for this sale can be found here. Insiders sold a total of 15,300 shares of company stock worth $3,526,721 over the last three months. Corporate insiders own 24.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clarus Wealth Advisors increased its holdings in Tesla by 83.3% in the 2nd quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Trustcore Financial Services LLC increased its holdings in Tesla by 121.8% in the 2nd quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. AllSquare Wealth Management LLC acquired a new stake in Tesla in the 2nd quarter valued at approximately $28,000. Bedel Financial Consulting Inc. increased its holdings in Tesla by 197.7% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Finally, HM Payson & Co. acquired a new stake in Tesla in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 54.41% of the company’s stock.

Tesla Company Profile

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.

Recommended Story: Understanding the different types of bonds

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.