Tesla (NASDAQ:TSLA) Stock Price Down 1.8% - Here's What Happened

Key Points

• Tesla's stock has fallen 1.8%, trading at $313.30 with an average volume decline of 81% compared to its typical trading volume.
• Analysts have mixed ratings for the stock, with ten analysts holding a sell rating and a median price target of $303.31.
• Recent earnings showed a miss in EPS at $0.40, falling short of expectations, with revenue decreasing 11.8% year-over-year to $22.5 billion.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) fell 1.8% on Thursday . The company traded as low as $315.70 and last traded at $313.30. 20,265,374 shares changed hands during trading, a decline of 81% from the average session volume of 107,573,352 shares. The stock had previously closed at $319.04.

Analyst Ratings Changes

Several brokerages have commented on TSLA. Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $987.33 billion, a P/E ratio of 176.78, a PEG ratio of 11.21 and a beta of 2.39. The company has a fifty day moving average price of $322.96 and a two-hundred day moving average price of $312.48.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,119 shares of company stock worth $246,186,549 in the last three months. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently bought and sold shares of TSLA. Rinkey Investments raised its position in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC grew its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. First Merchants Corp grew its stake in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors grew its stake in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after purchasing an additional 32 shares during the period. Finally, KWB Wealth grew its stake in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.