Tesla (NASDAQ:TSLA) Trading Up 1.3%

Tesla, Inc. (NASDAQ:TSLA)’s share price shot up 1.3% during mid-day trading on Tuesday . The stock traded as high as $257.19 and last traded at $253.14. 46,175,402 shares changed hands during trading, a decline of 52% from the average session volume of 96,015,320 shares. The stock had previously closed at $250.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Guggenheim upped their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Trading Up 1.0 %

The firm has a market cap of $804.89 billion, a price-to-earnings ratio of 64.58, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The business has a 50 day moving average price of $221.24 and a 200-day moving average price of $196.58. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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). The business 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%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. 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 hedge funds have recently made changes to their positions in the company. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its stake 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 worth $26,000 after buying an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter worth about $37,000. Finally, Kessler Investment Group LLC raised its stake in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares in the last quarter. 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.