Tesla, Inc. (NASDAQ:TSLA – Get Free Report) was up 0.3% on Wednesday after Royal Bank of Canada raised their price target on the stock from $224.00 to $236.00. Royal Bank of Canada currently has an outperform rating on the stock. Tesla traded as high as $247.43 and last traded at $245.18. Approximately 27,187,807 shares traded hands during trading, a decline of 71% from the average daily volume of 94,861,180 shares. The stock had previously closed at $244.50.
Several other analysts have also recently weighed in on TSLA. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, September 26th. Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a report on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $210.90.
View Our Latest Research Report on Tesla
Insider Activity at Tesla
Hedge Funds Weigh In On Tesla
Institutional investors have recently added to or reduced their stakes in the stock. Tobam purchased a new stake in shares of Tesla during the third quarter worth approximately $678,000. Strategic Advisors LLC raised its position in Tesla by 10.3% during the 3rd quarter. Strategic Advisors LLC now owns 19,702 shares of the electric vehicle producer’s stock worth $5,155,000 after buying an additional 1,833 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its holdings in shares of Tesla by 9.5% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,007 shares of the electric vehicle producer’s stock valued at $525,000 after acquiring an additional 174 shares in the last quarter. Brendel Financial Advisors LLC raised its holdings in Tesla by 0.6% during the third quarter. Brendel Financial Advisors LLC now owns 11,720 shares of the electric vehicle producer’s stock worth $3,066,000 after purchasing an additional 68 shares in the last quarter. Finally, Quotient Wealth Partners LLC lifted its position in Tesla by 40.9% in the third quarter. Quotient Wealth Partners LLC now owns 10,003 shares of the electric vehicle producer’s stock valued at $2,617,000 after purchasing an additional 2,904 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Price Performance
The company has a market cap of $783.26 billion, a price-to-earnings ratio of 62.55, a PEG ratio of 6.80 and a beta of 2.29. The company has a 50-day simple moving average of $224.61 and a 200-day simple moving average of $202.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company earned $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.
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.
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