Tesla (NASDAQ:TSLA) Witnesses a Significant Rise with Shares Soaring to $172.63

Tesla (NASDAQ:TSLA) Witnesses a Significant Rise with Shares Soaring to 2.63

Tesla, Inc. (NASDAQ:TSLAGet Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $172.63, but opened at $178.58. Tesla shares last traded at $182.32, with a volume of 24,097,921 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Sanford C. Bernstein decreased their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price for the company. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Barclays dropped their target price on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a report on Thursday, January 25th. Finally, TD Cowen lowered their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $208.04.

Read Our Latest Analysis on Tesla

Tesla Trading Up 5.3 %

The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $190.26 and a 200-day moving average of $223.41. The firm has a market capitalization of $578.74 billion, a P/E ratio of 42.61, a PEG ratio of 3.84 and a beta of 2.41.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Analysts anticipate that Tesla, Inc. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,598 shares of company stock worth $36,952,434. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Contravisory Investment Management Inc. acquired a new position in Tesla during the third quarter worth approximately $25,000. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $25,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the third quarter worth approximately $27,000. Finally, Halpern Financial Inc. grew its position in Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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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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