Tesla (NASDAQ:TSLA) Trading Down 1.2%

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 1.2% during trading on Tuesday . The stock traded as low as $247.70 and last traded at $248.59. Approximately 32,600,891 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 100,199,336 shares. The stock had previously closed at $251.51.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Truist Financial reissued a “hold” rating and set a $162.00 price objective on shares of Tesla in a report on Wednesday, July 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price target on shares of Tesla in a report on Monday. Glj Research upped their price objective on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday. Barclays raised their target price on shares of Tesla from $180.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Finally, Evercore ISI decreased their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $197.46.

Tesla Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a fifty day simple moving average of $201.71 and a two-hundred day simple moving average of $190.94. The firm has a market capitalization of $789.93 billion, a PE ratio of 63.42, a PEG ratio of 5.97 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Analysts forecast that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Lam Group Inc. purchased a new position in Tesla during the 4th quarter worth $25,000. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter valued at about $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% during the fourth 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 in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, Guardian Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter worth approximately $47,000. 66.20% of the stock is 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.