Tesla (NASDAQ:TSLA) Stock Price Down 1% - What's Next?

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded down 1% during mid-day trading on Tuesday . The company traded as low as $314.10 and last traded at $313.69. 27,318,989 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 99,243,387 shares. The stock had previously closed at $316.90.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Tuesday, July 8th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho cut their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $300.19.

Tesla Stock Up 2.1%

The business has a 50-day moving average price of $325.64 and a 200-day moving average price of $317.81. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 178.71, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. QTR Family Wealth LLC lifted its position in shares of Tesla by 51.0% in the second quarter. QTR Family Wealth LLC now owns 14,537 shares of the electric vehicle producer's stock worth $4,618,000 after buying an additional 4,913 shares during the last quarter. Eagle Capital Management LLC lifted its position in shares of Tesla by 6.6% in the second quarter. Eagle Capital Management LLC now owns 886 shares of the electric vehicle producer's stock worth $281,000 after buying an additional 55 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Tesla by 0.3% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 34,643 shares of the electric vehicle producer's stock worth $11,005,000 after buying an additional 106 shares during the last quarter. Loudon Investment Management LLC acquired a new stake in shares of Tesla in the second quarter worth about $206,000. Finally, Magnolia Private Wealth LLC lifted its position in shares of Tesla by 198.3% during the 2nd quarter. Magnolia Private Wealth LLC now owns 3,418 shares of the electric vehicle producer's stock worth $1,086,000 after purchasing an additional 2,272 shares during the last quarter. Hedge funds and other 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.