Tesla (NASDAQ:TSLA) Trading Down 1% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 1% during trading on Tuesday . The stock traded as low as $215.84 and last traded at $216.58. Approximately 15,961,018 shares changed hands during trading, a decline of 83% from the average daily volume of 93,743,133 shares. The stock had previously closed at $218.85.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. TD Cowen boosted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $211.63.

Tesla Price Performance

The firm has a market cap of $692.92 billion, a PE ratio of 55.25, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $228.09 and a 200-day simple moving average of $205.99.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last quarter. 25.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth $25,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other 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.