Tesla Inc. (TSLA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Tesla Inc. (NASDAQ:TSLA) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “During third-quarter 2017, Tesla delivered 220 Model 3s and produced 260, missing the production target of 1,500. This indicates that production has not been as smooth as anticipated. Tesla attributed production bottlenecks for this slow production. The company caters to a niche market and has been recording losses over the last few years. Moreover, the company is facing supply chain problems which are restricting its ability to increase production. High research and development costs, low number of chargers, high requirement of capital expenditure and opposition to direct selling in some states are other headwinds. During third-quarter 2017, the company delivered 220 Model 3s and produced 260, missing the production target of 1,500. This indicates that production has not been as smooth as anticipated. Tesla attributed production bottlenecks for this slow production.”

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the company a neutral rating in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Tesla from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Citigroup Inc. began coverage on shares of Tesla in a research note on Thursday, July 20th. They set a neutral rating and a $357.00 price objective on the stock. Berenberg Bank reissued a buy rating on shares of Tesla in a research note on Thursday, August 3rd. Finally, Vetr raised shares of Tesla from a hold rating to a buy rating and set a $372.51 price objective on the stock in a research note on Thursday, August 10th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Tesla has an average rating of Hold and an average price target of $327.37.

Shares of Tesla (NASDAQ:TSLA) traded down 2.18% during mid-day trading on Wednesday, hitting $351.81. 5,056,722 shares of the stock were exchanged. The stock’s market cap is $58.71 billion. The company has a 50-day moving average of $355.81 and a 200 day moving average of $339.51. Tesla has a one year low of $178.19 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. On average, equities analysts predict that Tesla will post ($6.56) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Tesla Inc. (TSLA) Downgraded to Sell at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/19/tesla-inc-tsla-downgraded-to-sell-at-zacks-investment-research.html.

In other news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the transaction, the director now directly owns 158,584 shares in the company, valued at approximately $56,329,036.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,446 shares of company stock worth $17,504,929. 23.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Envestnet Asset Management Inc. grew its stake in shares of Tesla by 70.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock worth $419,000 after purchasing an additional 621 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Tesla in the 1st quarter worth approximately $240,000. Neuberger Berman Group LLC grew its stake in shares of Tesla by 45.0% in the 1st quarter. Neuberger Berman Group LLC now owns 5,705 shares of the electric vehicle producer’s stock worth $1,588,000 after purchasing an additional 1,771 shares during the last quarter. AXA grew its stake in shares of Tesla by 23.3% in the 1st quarter. AXA now owns 2,096 shares of the electric vehicle producer’s stock worth $583,000 after purchasing an additional 396 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Tesla by 75.9% in the 1st quarter. Teachers Advisors LLC now owns 270,124 shares of the electric vehicle producer’s stock worth $75,176,000 after purchasing an additional 116,573 shares during the last quarter.

According to Zacks, “During third-quarter 2017, Tesla delivered 220 Model 3s and produced 260, missing the production target of 1,500. This indicates that production has not been as smooth as anticipated. Tesla attributed production bottlenecks for this slow production. The company caters to a niche market and has been recording losses over the last few years. Moreover, the company is facing supply chain problems which are restricting its ability to increase production. High research and development costs, low number of chargers, high requirement of capital expenditure and opposition to direct selling in some states are other headwinds. During third-quarter 2017, the company delivered 220 Model 3s and produced 260, missing the production target of 1,500. This indicates that production has not been as smooth as anticipated. Tesla attributed production bottlenecks for this slow production.”

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the company a neutral rating in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Tesla from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Citigroup Inc. began coverage on shares of Tesla in a research note on Thursday, July 20th. They set a neutral rating and a $357.00 price objective on the stock. Berenberg Bank reissued a buy rating on shares of Tesla in a research note on Thursday, August 3rd. Finally, Vetr raised shares of Tesla from a hold rating to a buy rating and set a $372.51 price objective on the stock in a research note on Thursday, August 10th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Tesla has an average rating of Hold and an average price target of $327.37.

Shares of Tesla (NASDAQ:TSLA) traded down 2.18% during mid-day trading on Wednesday, hitting $351.81. 5,056,722 shares of the stock were exchanged. The stock’s market cap is $58.71 billion. The company has a 50-day moving average of $355.81 and a 200 day moving average of $339.51. Tesla has a one year low of $178.19 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. On average, equities analysts predict that Tesla will post ($6.56) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Tesla Inc. (TSLA) Downgraded to Sell at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/19/tesla-inc-tsla-downgraded-to-sell-at-zacks-investment-research.html.

In other news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the transaction, the director now directly owns 158,584 shares in the company, valued at approximately $56,329,036.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,446 shares of company stock worth $17,504,929. 23.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Envestnet Asset Management Inc. grew its stake in shares of Tesla by 70.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock worth $419,000 after purchasing an additional 621 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Tesla in the 1st quarter worth approximately $240,000. Neuberger Berman Group LLC grew its stake in shares of Tesla by 45.0% in the 1st quarter. Neuberger Berman Group LLC now owns 5,705 shares of the electric vehicle producer’s stock worth $1,588,000 after purchasing an additional 1,771 shares during the last quarter. AXA grew its stake in shares of Tesla by 23.3% in the 1st quarter. AXA now owns 2,096 shares of the electric vehicle producer’s stock worth $583,000 after purchasing an additional 396 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Tesla by 75.9% in the 1st quarter. Teachers Advisors LLC now owns 270,124 shares of the electric vehicle producer’s stock worth $75,176,000 after purchasing an additional 116,573 shares during the last quarter. 56.62% of the stock is currently owned by institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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