Macguire Cheswick & Tuttle Investment Counsel LLC lowered its stake in Tesla Inc. Accern also assigned news headlines about the electric vehicle producer an impact score of 45.0741436449583 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the next few days. Dimensional Fund Advisors LP increased its position in shares of Tesla by 1.5% in the second quarter. Beech Hill Advisors Inc. now owns 3,209 shares of the electric vehicle producer's stock worth $1,160,000 after buying an additional 303 shares during the last quarter. Renaissance Technologies LLC raised its position in Tesla by 117.7% in the first quarter.
Tesla had $3 billion in cash on hand at the end of the second quarter, but said it expects to spend $2 billion in the second half of this year. Lincoln National Corp bought a new position in Tesla during the first quarter worth about $226,000. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla shares fell less than 1 percent to $356.25 in morning trading. This will allow the firm to bring the Model Y to market much sooner than was originally anticipated, and will also slash R&D costs. The firm has a 50-day moving average of $341.13 and a 200-day moving average of $307.07.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). The consensus target price is $244.67 with four equity analysts rating the company a strong buy, five equity analysts rating the company a buy, five equity analysts rating the company a hold, six equity analysts rating the company a underperform, and lastly zero equity analysts rating the company a sell. The firm's revenue was up 119.6% compared to the same quarter previous year. During the same quarter previous year, the company earned ($1.06) EPS. Equities research analysts forecast that Tesla will post ($6.29) earnings per share for the current fiscal year. If you are accessing this piece of content on another website, it was stolen and reposted in violation of USA & worldwide copyright law.
Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group, Inc. Finally, Cowen and Company reiterated an "underperform" rating and issued a $155.00 price target on shares of Tesla in a research note on Monday, May 1st. Finally, Bank of America Corporation decreased their price target on shares of Tesla from $170.00 to $165.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 26th. Guggenheim reissued a "buy" rating and set a $320.00 target price on shares of Tesla in a research report on Wednesday, April 19th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company's stock. Tesla now has a consensus rating of "Hold" and an average price target of $309.70.