Tesla's upcoming electric semi truck will be able to drive itself

Gwen Vasquez
August 13, 2017

Just yesterday Tesla Inc (NASDAQ:TSLA) traded 0.69% higher at $313.22. Four analysts have provided estimates for Tesla's earnings, with estimates ranging from ($2.07) to ($1.48). (The) restated a sell rating on shares of Tesla in a research report on Thursday, April 6th.

A number of research analysts have issued reports on the company.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. Those concerns have been heightened by fears that there potentially isn't enough demand for electric vehicles in the U.S.to meet Tesla's aggressive production commitments. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 14.39% and a negative return on equity of 26.74%. Tesla's revenue for the quarter was up 119.6% on a year-over-year basis. During the same period in the prior year, the company posted ($1.06) EPS. (The) raised their price target on shares of Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $345.00 target price (up previously from $314.00) on shares of Tesla in a research report on Wednesday. Reportedly, Tesla had not applied for a license so far for the same.

The rating agency said the overall company's "B2" rating was supported by the fact that if Tesla ends up in serious financial trouble, its brand name, products and physical assets would be of "considerable value" to other auto makers. Morgan Stanley downgraded shares of Tesla from an "overweight" rating to an "equal weight" rating and set a $305.00 price target on the stock.in a research report on Monday, May 15th. Tesla now has a consensus rating of "Hold" and an average price target of $309.70.

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In other news, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction dated Tuesday, May 9th. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. Institutional investors and hedge funds own 63.71% of the company's stock.

Will Tesla be the first to bring automated trucks to the masses?

ILLEGAL ACTIVITY WARNING: "Tesla Inc (NASDAQ:TSLA) Receives $297.31 Average Price Target from Analysts" was first reported by Rincon Hill News and is the property of of Rincon Hill News. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer's stock worth $1,287,000 after buying an additional 16 shares in the last quarter. Baillie Gifford & Co. raised its position in Tesla by 2.5% in the first 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 during the last quarter.

Moody's also warned that Tesla could face increasing competition from the likes of General Motors (GM), which launched the Chevrolet Bolt earlier this year, together with new entrants, including Apple (AAPL) and Alphabet Inc.'s (GOOGL) Google. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer's stock worth $126,000 after buying an additional 28 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Tesla by 32.9% in the first quarter.

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