Goldman Sachs Group, Inc. (The) Reiterates Sell Rating for Tesla Inc. (TSLA)


North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer's stock worth $122,000 after buying an additional 9 shares in the last quarter. Aware of the rapid innovation, the U.S. House of Representatives' Energy and Commerce Committee just passed a bill regulating autonomous vehicles and requiring automakers to submit safety reports to regulators.

TSLA has been the subject of several analyst reports. Baillie Gifford & Co. raised its position in Tesla by 2.5% in the first quarter. Macguire Cheswick & Tuttle Investment Counsel LLC's holdings in Tesla were worth $258,000 at the end of the most recent quarter. Finally, Carroll Financial Associates Inc. boosted its position in Tesla by 8.7% in the second quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer's stock valued at $798,576,000 after buying an additional 203,034 shares during the period. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. Institutional investors and hedge funds own 63.71% of the company's stock.

Tesla (NASDAQ TSLA) opened at 357.87 on Tuesday. 4,365,783 shares of the stock traded hands. The stock has a 50-day moving average of $346.20 and a 200 day moving average of $302.00. Tesla Inc has a 12 month low of $178.19 and a 12 month high of $386.99.

Wall St stock rally could be derailed by US-N Korea tension
On the London stock market, mining shares saw the biggest falls as many metal prices were hit by the geopolitical concerns. The S&P 500 index was down 18.45 points to 2,455.57 and the Nasdaq composite index was down 68.32 points to 6,284.01.

Additionally, "Tesla will also have to contend with what will likely be an accelerated competitive response from both auto OEMs as well as technology firms that are targeting the automotive mobility market", Moody's suggested.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a negative return on equity of 17.71% and a negative net margin of 7.61%. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.50 billion. The business's revenue for the quarter was up 119.6% compared to the same quarter past year. Equities research analysts expect that Tesla will post ($6.29) EPS for the current fiscal year.

Tesla filed a lawsuit against the state of MI a year ago claiming its ban on direct sales is in violation of national commerce laws. "(NASDAQ:TSLA) Stock Rating Reaffirmed by Guggenheim" was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another website, it was stolen and reposted in violation of United States and global copyright & trademark law. The original version of this story can be read at Platooning reduces the number of drivers that a shipping company would have to employ. Reportedly, Tesla had not applied for a license so far for the same. Tesla has not officially confirmed battery pack sizes for the 220-mile Standard and 310-mile Long Range launch editions of the Model 3, but has already promised all-wheel-drive and performance variants.