Tesla (NASDAQ:TSLA) Trading Down 1.6% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) fell 1.6% during mid-day trading on Thursday . The company traded as low as $326.59 and last traded at $332.89. 57,687,891 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 95,490,797 shares. The stock had previously closed at $338.23.

Analyst Ratings Changes

A number of research analysts recently issued reports on TSLA shares. Guggenheim raised their price target on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Piper Sandler raised their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Finally, UBS Group raised their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a 50-day moving average price of $274.55 and a two-hundred day moving average price of $231.81. The firm has a market cap of $1.11 trillion, a PE ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 in the last 90 days. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Connable Office Inc. increased its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. raised its holdings in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after buying an additional 38 shares during the period. Holistic Financial Partners lifted its position in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its holdings in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc grew its position in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds 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.