Tesla (NASDAQ:TSLA) Trading Up 3.8% - What's Next?

Key Points

• Tesla's stock price rose by 3.8% to $342.09 after trading as high as $343.26, though the trading volume was down by 63% compared to its average.
• Analysts have shown mixed sentiments, with ten issuing a sell rating and a majority (17) giving a buy rating, while the average price target is $303.31.
• The company reported a missed earnings estimate for the previous quarter, with earnings per share at $0.40 compared to the expected $0.43, and a year-over-year revenue decrease of 11.8%.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report)'s stock price was up 3.8% during mid-day trading on Monday . The company traded as high as $343.26 and last traded at $342.09. Approximately 38,891,509 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 106,326,477 shares. The stock had previously closed at $329.65.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TSLA shares. Benchmark reissued a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $303.31.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50-day moving average is $318.68 and its 200 day moving average is $306.71. The stock has a market capitalization of $1.10 trillion, a PE ratio of 197.00, a P/E/G ratio of 11.46 and a beta of 2.33.

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

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. Company insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Empowered Funds LLC grew its holdings in shares of Tesla by 18.6% during the second quarter. Empowered Funds LLC now owns 113,592 shares of the electric vehicle producer's stock worth $36,084,000 after buying an additional 17,823 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer's stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Greykasell Wealth Strategies Inc. grew its holdings in Tesla by 11.1% during the 2nd quarter. Greykasell Wealth Strategies Inc. now owns 991 shares of the electric vehicle producer's stock valued at $315,000 after purchasing an additional 99 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Tesla by 10.1% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 18,782 shares of the electric vehicle producer's stock valued at $5,966,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in Tesla by 17.1% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 38,997 shares of the electric vehicle producer's stock valued at $12,388,000 after purchasing an additional 5,691 shares in the last quarter. Institutional investors and hedge funds 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.

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.