The Tesla Motors’ (TSLA) “Equal Weight” Rating Reaffirmed at Morgan Stanley

The Tesla Motors’ (TSLA) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Tesla Motors Inc. (NASDAQ:TSLA) in a research report report published on Thursday. The brokerage currently has a $245.00 price objective on the electric vehicle producer’s stock.

A number of other brokerages have also recently issued reports on TSLA. Royal Bank Of Canada reiterated a hold rating on shares of Tesla Motors in a research note on Saturday, July 9th. Vetr cut shares of Tesla Motors from a buy rating to a hold rating and set a $224.81 price target on the stock. in a research note on Monday, July 11th. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Tesla Motors in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of Tesla Motors from a sell rating to a hold rating in a research note on Tuesday, July 5th. Finally, Argus cut shares of Tesla Motors from a buy rating to a hold rating and set a $251.38 price target on the stock. in a research note on Tuesday, June 28th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $246.30.

Shares of Tesla Motors (NASDAQ:TSLA) traded down 0.95% on Thursday, reaching $198.34. 1,195,351 shares of the company traded hands. Tesla Motors has a one year low of $141.05 and a one year high of $269.34. The stock’s market capitalization is $29.49 billion. The stock’s 50 day moving average price is $204.60 and its 200-day moving average price is $220.98.

Tesla Motors (NASDAQ:TSLA) last released its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. The business earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) earnings per share. Equities analysts forecast that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in Tesla Motors by 0.6% in the second quarter. Synovus Financial Corp now owns 1,390 shares of the electric vehicle producer’s stock valued at $293,000 after buying an additional 8 shares during the period. Bingham Osborn & Scarborough LLC increased its stake in Tesla Motors by 0.5% in the second quarter. Bingham Osborn & Scarborough LLC now owns 2,485 shares of the electric vehicle producer’s stock valued at $528,000 after buying an additional 12 shares during the period. Hartford Investment Management Co. increased its stake in Tesla Motors by 0.9% in the second quarter. Hartford Investment Management Co. now owns 2,017 shares of the electric vehicle producer’s stock valued at $428,000 after buying an additional 18 shares during the period. D Orazio & Associates Inc. increased its stake in Tesla Motors by 3.1% in the second quarter. D Orazio & Associates Inc. now owns 598 shares of the electric vehicle producer’s stock valued at $127,000 after buying an additional 18 shares during the period. Finally, WMS Partners LLC increased its stake in Tesla Motors by 1.9% in the second quarter. WMS Partners LLC now owns 1,310 shares of the electric vehicle producer’s stock valued at $278,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 66.62% of the company’s stock.

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