Stock

Tesla Bear Drops Sell Rating Few Hours Before ER

A known long time Tesla bear is out with a bad news, hours before the electric car maker post earnings.

This analyst is number 5258 out of 5871 analysts, according to TipRanks.com.

John Murphy of Merrill Lynch maintained a Sell rating on Tesla in a report released today, with a price target of $350.00. Shares of the company closed at $566.90 yesterday, below its 52-week high of $594.50 last Monday.

The analyst recommendation on Tesla is currently a Hold with a $421.48 average price goal, reflecting a downside of -25.9 percent. Morgan Stanley also downgraded the stock to Sell with a price target of $360.00, in a report released on January 16.

On the stock, corporate insider sentiment is negative based on the recent corporate insider activity of 54 insiders. This means that over the last quarter there has been an increase in the number of insiders selling their Tesla shares compared to earlier this year. Most recently, Stephen Jurvetson, a TSLA President, sold 17,223 shares for a total of $5,725,614, in November 2019.

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