Musk Offloads Tesla Shares, Here’s A Look At Price Target Cuts By The Most Accurate Analysts
Tesla Inc. TSLA CEO Elon Musk sold 19.5 million shares, estimated to be worth nearly $4 billion , in the electric vehicle maker between Nov. 4 and Nov. 8, according to filings made with the US Securities and Exchange Commission.
The company also recently said it is recalling over 40,000 Model S and Model X vehicles, belonging to model years 2017-2021. The electric vehicle maker notified the National Highway Traffic Safety Administration about the recall on Nov. 1 and the recall has been initiated by the company due to issues with the electronic power assist steering, or EPAS, system.
Lets have a look at how Benzingas most-accurate analysts have rated the EV maker in the recent period.
Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on the stock on October 25, 2022, but lowered the price target from $350 to $330. Accuracy Rate: 57% Mizuho analyst Vijay Rakesh maintained a Buy rating on Tesla on October 20, 2022, but slashed the price target from $370 to $330. Accuracy Rate: 65% Deutsche Bank analyst Emmanuel Rosner reaffirmed a Buy rating on the EV maker on October 20, 2022, but cut the price target from $390 to $355. Accuracy Rate: 71% Wedbush analyst Daniel Ives maintained an Outperform rating on October 20, 2022, but reduced the price target from $360 to $300. Accuracy Rate: 59% RBC Capital analyst Joseph Spak reiterated an Outperform rating on October 20, 2022, but slashed the price target from $340 to $325. Accuracy Rate: 40%
Tesla shares gained 0.9% to $193.07 in pre-market trading, after dropping 2.9% in regular trading session on Tuesday.
