Tesla (NASDAQ:TSLA) Trading 1.1% Higher – What’s Next?

Shares of Tesla, Inc. (NASDAQ:TSLA) rose 1.1% during mid-day trading on Wednesday . The company traded as high as $432.86 and last traded at $425.30. 39,727,640 shares traded hands during trading, a decline of 32% from the average daily volume of 58,639,047 shares. The stock had previously closed at $420.60.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s FSD v14 Lite rollout improved sentiment around its autonomy roadmap and gave bulls a tangible product milestone to point to. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
• Positive Sentiment: European registrations climbed in June, supporting the case for a Q2 delivery rebound. Tesla European registrations climb in June
• Positive Sentiment: Analysts and commentators are expecting Q2 deliveries to rise, which could extend the recent rally if Tesla meets or beats estimates. Tesla Stock Faces Q2 Deliveries Test — Here’s What Investors Should Expect
• Neutral Sentiment: Deutsche Bank reiterated a Buy rating, reinforcing a constructive but still valuation-sensitive view on the stock. Tesla buy rating from Deutsche Bank
• Negative Sentiment: Michael Burry disclosed fresh short positions against Tesla, adding a high-profile bearish headline around valuation and execution risk. Big Short Investor Michael Burry Reveals Tesla, Nvidia Shorts
• Negative Sentiment: Reports that BYD may again surpass Tesla in fully electric vehicle sales underline growing competition in EVs. BYD set to again overtake Tesla as top electric car seller

Analysts Set New Price Targets

A number of analysts have recently commented on TSLA shares. President Capital boosted their price objective on Tesla from $424.00 to $428.00 and gave the company a “buy” rating in a research report on Monday, April 27th. TD Cowen reissued a “buy” rating on shares of Tesla in a research note on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Friday, April 24th. Erste Group Bank raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Friday, June 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Tesla in a research report on Friday, June 5th. They issued a “buy” rating on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $403.07.

Tesla Trading Up 1.1%

The company has a 50 day moving average of $406.47 and a 200 day moving average of $412.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 390.18, a P/E/G ratio of 16.37 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFS Partners LLC raised its holdings in shares of Tesla by 4.2% during the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 24 shares during the period. Boltwood Capital Management increased its position in Tesla by 1.2% during the fourth quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer’s stock worth $953,000 after purchasing an additional 25 shares during the last quarter. Woodmont Investment Counsel LLC raised its stake in Tesla by 1.2% during the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer’s stock worth $955,000 after purchasing an additional 25 shares during the period. Aspect Partners LLC raised its stake in Tesla by 12.5% during the fourth quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer’s stock worth $101,000 after purchasing an additional 25 shares during the period. Finally, Human Investing LLC boosted its holdings in Tesla by 4.5% in the 4th quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.