Tesla Motors Inc (TSLA) is Downgraded by Oppenheimer to Perform

Tesla Motors Inc (TSLA) was Downgraded by Oppenheimer to ” Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Oppenheimer advised their investors in a research report released on Jun 22, 2016.

Many Wall Street Analysts have commented on Tesla Motors Inc. Piper Jaffray Initiated Tesla Motors Inc on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $223.Sterne Agee CRT Initiated Tesla Motors Inc on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $300.Shares were Reiterated by RBC Capital Mkts on May 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 242 from a previous price target of $252 .

On the company’s financial health, Tesla Motors Inc reported $-0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.67. The company had revenue of $1601.70 million for the quarter, compared to analysts expectations of $1598.62 million. The company’s revenue was up 45.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.36 EPS.

Tesla Motors Inc opened for trading at $219.5 and hit $223.75 on the upside on Monday, eventually ending the session at $219.7, with a gain of 1.96% or 4.23 points. The heightened volatility saw the trading volume jump to 35,55,471 shares. Company has a market cap of $29,428 M.

In a different news, on Jun 15, 2016, Kimbal Musk (director) sold 460 shares at $224.37 per share price. According to the SEC, on Jun 9, 2016, John Douglas Field (VP, Engineering) sold 1,000 shares at $230.75 per share price. On May 26, 2016, Elon Musk (CEO) sold 2,782,670 shares at $213.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Tesla Motors Inc. is a United States-based company which designs develops manufactures and sells electric vehicles electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S which is a fully electric four-door five-adult passenger sedan. In addition to developing its own vehicles it develops sells and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes commercial sites and utilities. The applications for these battery systems include backup power peak demand reduction demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car Supercharger charging stations and Powerwall a home battery.

Tesla Motors Inc

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