Tesla (NASDAQ:TSLA) Trading 4.7% Higher - Here's Why

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price traded up 4.7% during trading on Tuesday . The stock traded as high as $237.81 and last traded at $238.21. 31,164,260 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 95,796,206 shares. The stock had previously closed at $227.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TSLA shares. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday. Argus set a $410.00 price target on Tesla in a research report on Thursday. Guggenheim reaffirmed a "sell" rating and issued a $170.00 price target on shares of Tesla in a research note on Thursday. Finally, Robert W. Baird dropped their price target on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $287.46.

Tesla Stock Up 9.8 %

The firm has a 50-day moving average of $263.98 and a two-hundred day moving average of $322.46. The firm has a market cap of $916.55 billion, a price-to-earnings ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. Insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI raised its stake in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock worth $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD grew its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC increased its holdings in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. 66.20% of the stock is 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.