Tesla Inc (NASDAQ:TSLA) was up 2.4% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $650.00 to $740.00. Morgan Stanley currently has an underweight rating on the stock. Tesla traded as high as $1,392.00 and last traded at $1,404.96, approximately 14,827,361 shares were traded during mid-day trading. An increase of 27% from the average daily volume of 11,656,606 shares. The stock had previously closed at $1,371.58.
Several other research firms have also commented on TSLA. Piper Sandler upped their price target on shares of Tesla from $819.00 to $939.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. UBS Group reaffirmed a "neutral" rating and issued a $800.00 price target (up from $420.00) on shares of Tesla in a report on Tuesday, June 30th. JMP Securities upped their price target on shares of Tesla from $1,001.00 to $1,050.00 and gave the company an "outperform" rating in a report on Tuesday, June 30th. Cfra raised shares of Tesla to a "hold" rating in a report on Tuesday, March 17th. Finally, DZ Bank reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, April 30th. Eleven analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of "Hold" and an average price target of $633.63.
In related news, CFO Zachary Kirkhorn sold 150 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $772.92, for a total value of $115,938.00. Following the completion of the sale, the chief financial officer now owns 11,282 shares in the company, valued at approximately $8,720,083.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 300 shares of the company's stock in a transaction on Monday, April 13th. The shares were sold at an average price of $623.63, for a total transaction of $187,089.00. Following the completion of the sale, the senior vice president now owns 4,445 shares of the company's stock, valued at approximately $2,772,035.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,198 shares of company stock valued at $18,949,072. 23.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in TSLA. Efficient Wealth Management LLC acquired a new position in shares of Tesla during the 1st quarter worth $26,000. RPG Investment Advisory LLC acquired a new stake in shares of Tesla in the first quarter valued at about $26,000. MCF Advisors LLC purchased a new stake in shares of Tesla during the first quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Tesla in the first quarter worth about $26,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Tesla during the first quarter worth approximately $26,000. Institutional investors own 50.40% of the company's stock.
The company has a 50 day moving average of $939.93 and a 200-day moving average of $700.78. The stock has a market capitalization of $254.25 billion, a P/E ratio of -1,562.15 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.24 and a debt-to-equity ratio of 1.07.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.36) by $1.60. Tesla had a negative net margin of 0.55% and a negative return on equity of 1.86%. The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.85 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. The firm's revenue was up 31.8% compared to the same quarter last year. Equities analysts forecast that Tesla Inc will post -0.56 EPS for the current fiscal year.
Tesla Company Profile (NASDAQ:TSLA)
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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5 Oil Stocks That May Not Survive the Current Crisis
What would you think of the long-term prospects of a business that paid you to buy their products? That’s an oversimplification of what occurred to the May futures contract for oil on April 20. The price for that contract sold for a negative price for the first time in history.
The crisis befalling the oil companies at this time can best be described as “only the strongest survive.” There’s just no way the oil companies can possibly handle month after month of rock-bottom oil prices.
The problem is almost comically simple to understand. There is a massively reduced demand for oil as millions of Americans are following mitigation orders ranging from social distancing guidelines to more restrictive shelter in place orders. At the same time, the market is trying to absorb the oversupply of oil that came from Russia and Saudi Arabia.
However, when the year started, things looked like it might be business as usual for oil producers. The U.S. economy was humming along and there was talk that the second half of the year might finally bring the boost to oil prices that many companies badly needed.
However, since the middle of February, the bottom has dropped out of the market in general, and oil prices have been one of the main sectors to feel the impact.
Initially, investors tried to remain optimistic. A month ago, investors thought that the economy might be reopening sooner rather than later. However, the exact timing of the reopening is about as fluid as a barrel of oil. And with it looking more likely that there will be more demand destruction at least through May, there’s very little to prop up the stock of any oil companies.
And that means that, in all likelihood, there will not be room left for some oil companies. We’ve highlighted five oil stocks that have a strong probability of not surviving the chaos surrounding the coronavirus and our nation’s response.
View the "5 Oil Stocks That May Not Survive the Current Crisis".