Tesla (NASDAQ:TSLA) Trading 3.5% Higher

Tesla, Inc. (NASDAQ:TSLA)’s share price rose 3.5% on Tuesday . The company traded as high as $205.88 and last traded at $204.49. Approximately 28,255,850 shares were traded during trading, a decline of 72% from the average daily volume of 99,326,797 shares. The stock had previously closed at $197.49.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Glj Research boosted their price target on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Mizuho boosted their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $204.21.

Tesla Stock Down 3.1 %

The stock’s 50-day simple moving average is $213.65 and its 200 day simple moving average is $190.63. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $642.24 billion, a P/E ratio of 51.37, a PEG ratio of 5.17 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on 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 directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in shares of Tesla by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 4,754,950 shares of the electric vehicle producer’s stock valued at $941,050,000 after buying an additional 459,704 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Alight Capital Management LP bought a new position in Tesla in the 2nd quarter valued at about $1,979,000. Kingfisher Capital LLC acquired a new position in Tesla during the 2nd quarter valued at about $1,290,000. Finally, Wescott Financial Advisory Group LLC increased its holdings in Tesla by 8.0% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,002 shares of the electric vehicle producer’s stock worth $396,000 after purchasing an additional 149 shares in the last quarter. 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.