Tesla (NASDAQ:TSLA) Shares Up 6.8%

Tesla, Inc. (NASDAQ:TSLA) rose 6.8% during trading on Thursday . The stock traded as high as $215.79 and last traded at $215.17. Approximately 36,618,773 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 99,047,859 shares. The stock had previously closed at $201.38.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, July 16th. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Stock Up 6.3 %

The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $213.65 and its 200-day moving average price is $190.63. The stock has a market cap of $682.39 billion, a price-to-earnings ratio of 54.89, a P/E/G ratio of 5.17 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in Tesla in the 4th quarter valued at $7,844,757,000. Clean Energy Transition LLP boosted its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.