Has $632000 Position in Tesla Inc. (NASDAQ:TSLA)

Tesla Model S Ferrari 458

Citigroup Inc. assumed coverage on shares of Tesla Inc. The firm issued a neutral rating and a $357.00 price objective on the electric vehicle producer's stock. Sanford C. Bernstein's target price would suggest a potential downside of 27.44% from the stock's previous close.

TSLA has been the subject of several research analyst reports. J P Morgan Chase & Co increased their target price on Tesla from $185.00 to $190.00 and gave the stock an "underweight" rating in a report on Monday, May 8th.

The latest effective yield on single-B rated bonds maturing in seven to eight years, the class for a Tesla issue, is around 5.5 percent, according to Bank of America/Merrill Lynch Fixed Income Index data. Goldman Sachs Group, Inc. Finally, Cowen and Company reissued an "underperform" rating and issued a $155.00 price target on shares of Tesla in a report on Monday, May 1st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $320.00 price target on shares of Tesla in a research note on Wednesday, April 19th.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd.

When Musk was asked last week if he would like to raise more cash as a buffer, he said the company was considering a debt offering but not an offering of stocks. Tesla Inc. The firm's 50-day moving average price is $346.20 and its 200-day moving average price is $302.00.

Shares of Tesla were last seen up 3% at $367.20, with a consensus analyst price target of $313.24 and a 52-week range of $178.19 to $386.99. In March, the company raised $1.4 billion through a convertible debt offering. 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 during 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 17.71%. The business's revenue was up 119.6% compared to the same quarter a year ago. During the same quarter past year, the business posted ($1.06) EPS. On average, equities research analysts expect that Tesla Inc. will post ($6.23) EPS for the current year.

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In other news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction that occurred on Monday, July 3rd.

"Bond investors, who typically don't love companies that don't make money, will be far more forgiving when it comes to Tesla", said bond expert Robbie Goffin, managing director of FTI Consulting, citing the company's stellar stock market value. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. UBS Asset Management Americas Inc. increased its stake in shares of Tesla by 9.4% in the fourth quarter. Carroll Financial Associates Inc. raised its position in shares of Tesla by 8.7% in the second quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer's stock valued at $109,000 after buying an additional 364 shares in the last quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer's stock worth $282,000 after buying an additional 20 shares during the period. Commerce Bank now owns 2,063 shares of the electric vehicle producer's stock worth $746,000 after buying an additional 802 shares in the last quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer's stock worth $338,313,000 after buying an additional 47,550 shares during the last quarter. The institutional investor bought 991 shares of the electric vehicle producer's stock, valued at approximately $358,000.

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.

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