Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s share price shot up 1.4% during trading on Tuesday . The stock traded as high as $187.01 and last traded at $185.17. 24,302,848 shares traded hands during trading, a decline of 74% from the average session volume of 95,158,516 shares. The stock had previously closed at $182.58.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on TSLA shares. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Jefferies Financial Group decreased their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Canaccord Genuity Group dropped their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Finally, Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $187.30.
Get Our Latest Analysis on TSLA
Tesla Stock Performance
The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $175.02 and its two-hundred day moving average is $192.25. The company has a market cap of $626.26 billion, a PE ratio of 50.09, a PEG ratio of 4.65 and a beta of 2.32.
Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities research analysts anticipate that Tesla, Inc. will post 1.87 EPS for the current year.
Insider Activity at Tesla
In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is owned by corporate insiders.
Institutional Trading of Tesla
Several hedge funds have recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter worth about $37,000. Finally, Guardian Wealth Management Inc. bought a new stake in shares of Tesla in the 4th quarter worth about $47,000. 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.
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