Tesla (NASDAQ:TSLA) Stock Price Up 6.5% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA)’s stock price shot up 6.5% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $160.00 to $180.00. TD Cowen currently has a hold rating on the stock. Tesla traded as high as $248.35 and last traded at $246.39. 166,561,471 shares changed hands during mid-day trading, an increase of 106% from the average session volume of 80,957,576 shares. The stock had previously closed at $231.26.

Several other equities analysts have also commented on TSLA. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday. HSBC dropped their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price target on shares of Tesla in a research note on Monday. Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $189.47.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’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 in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new stake in Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in shares of Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 6.5 %

The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $182.57 and a 200-day simple moving average of $191.32. The stock has a market cap of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Analysts expect that Tesla, Inc. will post 1.86 EPS for the current year.

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.