Tesla (NASDAQ:TSLA) Trading Down 0.7% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) traded down 0.7% during trading on Thursday . The company traded as low as $217.90 and last traded at $219.76. 18,017,395 shares were traded during mid-day trading, a decline of 81% from the average session volume of 94,426,258 shares. The stock had previously closed at $221.33.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday. Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Friday, October 11th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Finally, Guggenheim boosted their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Trading Down 0.5 %

The firm has a market cap of $703.68 billion, a P/E ratio of 61.78, a PEG ratio of 5.94 and a beta of 2.29. The company’s 50 day moving average is $226.81 and its two-hundred day moving average is $204.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of large investors have recently bought and sold shares of TSLA. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter worth $25,000. Clean Yield Group lifted its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth $26,000. Finally, M&R Capital Management Inc. lifted its holdings in 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 buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by 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.