Tesla (NASDAQ:TSLA) Stock Price Down 1.9%

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 1.9% during trading on Wednesday . The company traded as low as $250.34 and last traded at $251.65. Approximately 35,169,250 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 100,113,180 shares. The stock had previously closed at $256.56.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TSLA shares. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday. Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a report on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price target on shares of Tesla in a report on Monday. Finally, UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and increased their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $203.03.

Tesla Stock Performance

The company has a market capitalization of $792.29 billion, a price-to-earnings ratio of 63.58, a price-to-earnings-growth ratio of 6.20 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a 50 day moving average price of $198.70 and a two-hundred day moving average price of $191.64.

Tesla (NASDAQ:TSLA) last announced 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 return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. On average, analysts predict that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was 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 $2,772,900. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Lam Group Inc. bought a new position in Tesla during the fourth quarter worth about $25,000. Bank & Trust Co bought a new position in Tesla during the second quarter worth about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. 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.