Tesla (NASDAQ:TSLA) Shares Down 0.8%

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 0.8% on Wednesday . The company traded as low as $206.27 and last traded at $207.57. Approximately 17,524,287 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 97,673,359 shares. The stock had previously closed at $209.21.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 target price on shares of Tesla in a research note on Monday, August 19th. HSBC boosted their target price on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $204.21.

Tesla Price Performance

The stock’s fifty day moving average price is $219.98 and its 200-day moving average price is $192.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market cap of $647.92 billion, a PE ratio of 52.95, a price-to-earnings-growth ratio of 5.46 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, equities analysts expect that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% during the second 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 during the period. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at $26,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in Tesla during the 4th quarter worth about $47,000. 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.