Published: Tue, February 28, 2017
Economy | By Melissa Porter

Tesla Inc: TSLA Stocks Slip 4% after Goldman Sachs Downgrade

Tesla Inc: TSLA Stocks Slip 4% after Goldman Sachs Downgrade

Other analysts also recently issued reports about the company.

Earlier, analysts at Goldman Sachs downgraded the stock to sell, unleashing a rout that shaved more than 5% off the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $314.00 price objective (up from $245.00) on shares of Tesla Motors in a report on Thursday. Independent Advisor Alliance bought a new stake in shares of Tesla Motors during the fourth quarter worth approximately $102,000.

At least one analyst wasn't buying the hype that Tesla was trying to sell on last week's earnings call. And with Tesla stock down 11.5% in price from what it fetched just a couple days prior to earnings, each new share of stock issued will infuse considerably less cash into Tesla's red ink-bleeding income statement.

Tesla Inc shares fell $7.02 (-2.73%) in premarket trading Monday.

Goldman is already expecting Tesla's launch of its low-priced, mass-market Model 3 to be delayed, despite reassurance from the company in its earnings report last week that the vehicle is on schedule to arrive in July. TSLA has recorded a 50-day average of $253.82 and a two hundred day average of $215.53.

Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.43) by $0.26. The Weekly and Monthly Volatility stands at 3.35% and 2.66%. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The business's revenue for the quarter was up 88.2% compared to the same quarter previous year. The company beat the analyst EPS Estimate with the difference of $-0.26.

This piece was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of USA & global copyright law. It has been assigned a low target price of $155 and a high target price of $375. The Stock shows P/E value of 8.73 and Forward P/E of 8.61.

The latest Insider trade was made on 5 Feb 2017 where Gracias (Antonio J) Director did a transaction type "Sell" in which 1300 shares were traded at a price of $256.34.

Now the company Insiders own 27.7% of Tesla Motors, Inc. shares according to the proxy statements. The disclosure for this sale can be found here. The Stock has YTD (year to date) performance of 20.27 percent. David believes that Tesla will have to raise $1.7 billion in the third quarter, to fulfill its capital expenditures. Other firms include Guggenheim giving Buy rating on 4-Jan-17. The consensus rating is 2.3, suggesting the market has given up on the stock. Finally, American Century Companies Inc. increased its stake in Tesla Motors by 95.6% in the fourth quarter. The stock opened for trading at $252.66 and hit $258.25 on the upside, eventually ending the session at $257, with a gain of 0.39% or 1.01 points. In addition to developing its own vehicles, it sells energy storage products. Until today's correction, Tesla had a market capitalization close to that of Ford Motor Company. Institutional investors and hedge funds own 53.00% of the company's stock.

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