Tesla (TSLA) Stock Plunges Ahead of Wednesday’s Earnings Release

Research analysts at Berenberg Bank began coverage on shares of Tesla Motors Inc (NASDAQ:TSLA) in a research note issued on Wednesday, The Fly reports. 3,635,581 shares of the stock traded hands. “That is going to generically depress the prices of electric vehicles”, he added. Below is a list of Tesla Motors Inc (NASDAQ:TSLA) latest ratings and price target changes. Following the transaction, the insider now directly owns 134,902 shares in the company, valued at approximately $28,662,627.94. It has underperformed by 27.06% the S&P500.

Other analysts remain bullish on Tesla’s long-term prospects. This means 35% are positive. The highest target price is $465 while the lowest target price is $180. But even though TSLA stock is down more than 30% in 2016 and has flopped about 45% from its highs last summer, investors need to look past the short-term to really understand this electric vehicle manufacturer. JMP Securities initiated shares on December 14 with a “Market Perform” rating. Tesla Motors now has a consensus rating of “Hold” and an average price target of $277.19. But if not, TSLA stock will be hurting in a big way. Robert W. Baird downgraded the rating on October 7. Finally, S&P Research upgraded the stock to a “Hold” rating in a report they issued on an October 13.

The institutional sentiment increased to 1.29 in 2015 Q3. It’s up 0.01, from 1.28 in 2015Q2. Finally, Bienville Capital Management LLC boosted its position in shares of Tesla Motors by 1.2% in the fourth quarter. Janus Capital Management now owns 263,072 shares of the electric vehicle producer’s stock valued at $65,347,000 after buying an additional 232,382 shares in the last quarter. The New York-based Long Oar Global Investors Llc has invested 5.74% in the stock. Also, insider Jeffrey B. Straubel sold 10,000 shares of the company’s stock in a transaction on Monday, November 16th. Guillen Jerome M sold 1,500 shares worth $373,291. The stock was sold at an average price of $212.47, for a total value of $2,124,700.00. Gamco Investors INC. ET AL bought a new position in shares of Tesla Motors during the fourth quarter valued at about $620,000. The stock’s market capitalization is $22.96 billion.

In a note to clients on Monday, Morgan Stanley’s Adam Jonas predicted lower volumes for Tesla’s newest vehicle, its “Model X” SUV. It now has negative earnings. Lourd Capital LLC now owns 1,138 shares of the electric vehicle producer’s stock valued at $273,000 after buying an additional 233 shares during the period.