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 during the last quarter. Tesla is burning through about $1 billion per quarter, as it starts its ambitious plan of ramping up Model 3 production to over 400,000 units per year in only 18 months. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer's stock valued at $118,000 after buying an additional 150 shares during the last quarter.
Tesla said it would raise about $US1.5 billion ($1.9 billion) through its first-ever high-yield junk bond offering, as the USA luxury electric auto maker seeks fresh sources of cash to ramp up production of its new Model 3 sedan. The institutional investor owned 2,596 shares of the electric vehicle producer's stock after buying an additional 26 shares during the period. The legal version of this piece of content can be read at https://www.thestockobserver.com/2017/08/12/macguire-cheswick-tuttle-investment-counsel-llc-sells-115-shares-of-tesla-inc-nasdaqtsla.html. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,382 shares of the electric vehicle producer's stock worth $487,000 after buying an additional 25 shares during the last quarter.
TRADEMARK VIOLATION WARNING: "Tesla Inc".
Shares of Tesla (NASDAQ TSLA) opened at 357.87 on Thursday. The company had a trading volume of 4,365,783 shares. The stock has a 50-day moving average price of $341.84 and a 200-day moving average price of $306.29.
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.
"We could lower our ratings on Tesla if execution issues related to the Model 3 launch later this year or the ongoing expansion of its Models S and X production lead to significant cost overruns", S&P said in a statement on the bonds.
Tesla (NASDAQ:TSLA) last announced 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. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter previous year, the company earned ($1.06) earnings per share. The firm's revenue for the quarter was up 119.6% on a year-over-year basis. On average, analysts anticipate that Tesla Inc. will post ($6.29) EPS for the current fiscal year. If you are reading this report on another website, it was stolen and reposted in violation of United States and global copyright & trademark law. Dougherty & Co restated a "buy" rating and set a $375.00 price target (down previously from $500.00) on shares of Tesla in a report on Wednesday, April 26th. Guggenheim boosted their price objective on shares of Tesla from $320.00 to $380.00 and gave the stock a buy rating in a research report on Monday, May 15th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the stock. Tesla has an average rating of Hold and an average target price of $309.70.