Tesla (NASDAQ:TSLA) Trading Up 1.8%

Tesla, Inc. (NASDAQ:TSLA)’s stock price rose 1.8% during mid-day trading on Tuesday . The stock traded as high as $146.18 and last traded at $144.58. Approximately 35,334,399 shares traded hands during trading, a decline of 65% from the average daily volume of 100,789,367 shares. The stock had previously closed at $142.05.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Tesla from a “buy” rating to a “hold” rating and reduced their target price for the company from $189.00 to $123.00 in a research report on Thursday, April 18th. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating on the stock. Citigroup upped their target price on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group reduced their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, Truist Financial cut their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $186.22.

Tesla Stock Up 12.1 %

The company has a market cap of $516.35 billion, a PE ratio of 41.36, a P/E/G ratio of 3.82 and a beta of 2.39. The business has a 50-day simple moving average of $176.28 and a 200-day simple moving average of $208.91. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.68% and a net margin of 14.37%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the stock. Mount Vernon Associates Inc. MD lifted its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares in the last quarter. Oak Ridge Investments LLC lifted its position in Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares in the last quarter. Corient Private Wealth LLC lifted its position in Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after buying an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.