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HSBC Boosts Tesla (NASDAQ:TSLA) Price Target to $130.00

Tesla logo with Auto/Tires/Trucks background

Tesla (NASDAQ:TSLA - Get Free Report) had its price target lifted by equities research analysts at HSBC from $120.00 to $130.00 in a report released on Wednesday, BayStreet.CA reports. HSBC's target price points to a potential downside of 50.62% from the company's current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley reissued an "overweight" rating and issued a $310.00 price target on shares of Tesla in a research note on Wednesday. Roth Mkm reissued a "neutral" rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. The Goldman Sachs Group raised their price objective on Tesla from $175.00 to $248.00 and gave the stock a "neutral" rating in a research note on Wednesday. Truist Financial reaffirmed a "hold" rating and set a $162.00 price objective on shares of Tesla in a research note on Wednesday, July 3rd. Finally, Citigroup reaffirmed a "neutral" rating on shares of Tesla in a research note on Wednesday, June 12th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $195.39.

Check Out Our Latest Stock Report on Tesla

Tesla Price Performance

NASDAQ TSLA traded up $0.93 during trading hours on Wednesday, reaching $263.26. 127,980,891 shares of the company's stock were exchanged, compared to its average volume of 98,692,945. The stock has a market cap of $839.59 billion, a PE ratio of 67.16, a price-to-earnings-growth ratio of 6.27 and a beta of 2.31. Tesla has a one year low of $138.80 and a one year high of $299.29. The firm has a fifty day moving average of $188.52 and a 200-day moving average of $190.90. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.


Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, equities research analysts predict that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the firm's stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the firm's stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company's stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Csenge Advisory Group boosted its stake in Tesla by 1.6% in the 2nd quarter. Csenge Advisory Group now owns 23,848 shares of the electric vehicle producer's stock worth $4,719,000 after purchasing an additional 376 shares in the last quarter. Legacy Financial Strategies LLC boosted its stake in Tesla by 24.2% in the 2nd quarter. Legacy Financial Strategies LLC now owns 3,530 shares of the electric vehicle producer's stock worth $699,000 after purchasing an additional 687 shares in the last quarter. Selective Wealth Management Inc. acquired a new stake in Tesla in the 2nd quarter worth approximately $209,000. Advocate Group LLC boosted its stake in Tesla by 6.5% in the 2nd quarter. Advocate Group LLC now owns 4,078 shares of the electric vehicle producer's stock worth $807,000 after purchasing an additional 250 shares in the last quarter. Finally, LifePro Asset Management acquired a new stake in Tesla in the 2nd quarter worth approximately $2,889,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

About Tesla

(Get Free Report)

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.

See Also

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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