Tesla (NASDAQ:TSLA) Trading Up 0.3% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 0.3% during mid-day trading on Wednesday . The stock traded as high as $222.82 and last traded at $220.12. Approximately 22,859,177 shares were traded during trading, a decline of 76% from the average daily volume of 94,655,867 shares. The stock had previously closed at $219.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays lowered their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $230.00 target price on shares of Tesla in a research report on Friday, October 11th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Trading Up 0.1 %

The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $704.88 billion, a price-to-earnings ratio of 56.44, a P/E/G ratio of 5.94 and a beta of 2.29. The business has a fifty day simple moving average of $227.25 and a 200 day simple moving average of $204.80.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Clean Yield Group lifted its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 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.