Tesla, Inc. (NASDAQ:TSLA - Get Free Report) fell 5.1% during mid-day trading on Thursday . The stock traded as low as $435.57 and last traded at $436.00. 135,359,148 shares were traded during trading, an increase of 31% from the average session volume of 103,031,164 shares. The stock had previously closed at $459.46.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on TSLA. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Canaccord Genuity Group increased their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $334.94.
Check Out Our Latest Report on TSLA
Tesla Price Performance
The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 252.02, a P/E/G ratio of 15.46 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $359.13 and its 200 day moving average is $318.62.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm 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 company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Activity
In other news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC grew its stake in shares of Tesla by 10.8% during the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer's stock worth $102,000 after buying an additional 30 shares during the last quarter. First Merchants Corp grew its stake in shares of 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 buying an additional 31 shares during the last quarter. Kaye Capital Management lifted its holdings in shares of Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer's stock worth $333,000 after purchasing an additional 31 shares during the period. Spectrum Wealth Advisory Group LLC lifted its holdings in shares of Tesla by 3.4% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer's stock worth $299,000 after purchasing an additional 31 shares during the period. Finally, Wambolt & Associates LLC lifted its holdings in shares of Tesla by 1.0% during the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer's stock worth $938,000 after purchasing an additional 31 shares during the period. Institutional investors own 66.20% of the company's stock.
Tesla Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tesla, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.
While Tesla currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
