Argus Research Downgrades Tesla Motors Inc to Hold

Brokerage firm Argus Research Downgrades its rating on Tesla Motors Inc(NASDAQ:TSLA). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Argus Research was issued on Jun 28, 2016.

In a different note, On Jun 24, 2016, Standpoint Research said it Upgrades its rating on Tesla Motors Inc. The shares have been rated ‘Hold’ by the firm. On Jun 23, 2016, Morgan Stanley said it Downgrades its rating on Tesla Motors Inc. In the research note, the firm Lowers the price-target to $333.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 22, 2016, Oppenheimer said it Downgrades its rating on Tesla Motors Inc. The shares have been rated ‘Perform’ by the firm. On Jun 22, 2016, Barclays said it Maintains its rating on Tesla Motors Inc. The shares have been rated ‘Underweight’ by the firm. On Jun 22, 2016, Standpoint Research said it Maintains its rating on Tesla Motors Inc. The shares have been rated ‘Sell’ by the firm. On Jun 22, 2016, Pacific Crest said it Maintains its rating on Tesla Motors Inc. The shares have been rated ‘Sector Weight’ by the firm.

Tesla Motors Inc (TSLA) made into the market gainers list on Fridays trading session with the shares advancing 1.99% or 4.22 points. Due to strong positive momentum, the stock ended at $216.5, which is also near the day’s high of $218.24. The stock began the session at $206.14 and the volume stood at 53,99,951 shares. The 52-week high of the shares is $286.65 and the 52 week low is $141.05. The company has a current market capitalization of $28,999 M and it has 13,39,44,622 shares in outstanding.

Tesla Motors Inc(TSLA) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.60B. Analysts had an estimated revenue of $1.60B. Earnings per share were $-0.57. Analysts had estimated an EPS of $-0.57.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Kimbal Musk (director) sold 460 shares at $224.37 per share price.Also, 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.

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