Tesla (NASDAQ:TSLA) Shares Up 5.1%

Tesla, Inc. (NASDAQ:TSLA) shares traded up 5.1% on Thursday . The stock traded as high as $240.19 and last traded at $238.90. 37,180,301 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 95,942,406 shares. The stock had previously closed at $227.20.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. The Goldman Sachs Group lowered their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Price Performance

The firm has a market capitalization of $759.83 billion, a PE ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a fifty day moving average price of $221.30 and a 200-day moving average price of $195.84.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Sell-side analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter valued at $26,000. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter worth about $37,000. Finally, Guardian Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter valued at about $47,000. Institutional investors and hedge funds 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.