Tesla (NASDAQ:TSLA) Stock Price Up 0.3% – Should You Buy?

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 0.3% during trading on Wednesday . The company traded as high as $222.82 and last traded at $220.12. Approximately 22,859,177 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 94,655,867 shares. The stock had previously closed at $219.57.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Truist Financial lifted their price target on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Argus restated a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Monday, October 7th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.72.

Tesla Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $707.24 billion, a price-to-earnings ratio of 56.37, a PEG ratio of 6.48 and a beta of 2.29. The company has a 50-day moving average price of $226.22 and a 200-day moving average price of $204.57.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Large investors have recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group increased its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.