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Wedbush Thinks Tesla’s Stock is Going to Recover

Wedbush analyst Daniel Ives maintained a Buy rating on Tesla (TSLAResearch Report) today and set a price target of $1000.00. The company’s shares closed last Wednesday at $685.47, close to its 52-week low of $620.46.

According to TipRanks.com, Ives is a 5-star analyst with an average return of 12.5% and a 51.1% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, SoundHound AI, Inc Class A, and Palo Alto Networks.

Currently, the analyst consensus on Tesla is a Moderate Buy with an average price target of $899.86, which is a 30.1% upside from current levels. In a report issued on June 24, Mizuho Securities also maintained a Buy rating on the stock with a $1150.00 price target.

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The company has a one-year high of $1243.49 and a one-year low of $620.46. Currently, Tesla has an average volume of 29.08M.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSLA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.

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