Tesla (NASDAQ:TSLA) Trading Up 1.8% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) was up 1.8% during mid-day trading on Tuesday . The stock traded as high as $344.88 and last traded at $344.68. Approximately 29,144,850 shares traded hands during trading, a decline of 70% from the average daily volume of 95,865,375 shares. The stock had previously closed at $338.74.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Truist Financial lifted their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $230.18.

Tesla Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 94.55, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The stock has a 50-day moving average price of $254.75 and a two-hundred day moving average price of $222.13.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last quarter. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in TSLA. China Universal Asset Management Co. Ltd. boosted its stake in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares during the period. Bessemer Group Inc. increased its holdings in Tesla by 113.9% during the 1st quarter. Bessemer Group Inc. now owns 65,437 shares of the electric vehicle producer’s stock worth $11,503,000 after purchasing an additional 34,850 shares during the period. Leelyn Smith LLC grew its holdings in Tesla by 107.2% during the 1st quarter. Leelyn Smith LLC now owns 10,831 shares of the electric vehicle producer’s stock worth $1,904,000 after acquiring an additional 5,603 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Tesla in the 1st quarter worth approximately $9,703,000. Finally, Mattern Capital Management LLC raised its stake in shares of Tesla by 33.6% during the 1st quarter. Mattern Capital Management LLC now owns 5,195 shares of the electric vehicle producer’s stock worth $913,000 after acquiring an additional 1,307 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.