Tesla (NASDAQ:TSLA) Trading 3.9% Higher

Shares of Tesla, Inc. (NASDAQ:TSLA) shot up 3.9% on Monday . The company traded as high as $251.57 and last traded at $248.48. 37,320,063 shares were traded during trading, a decline of 63% from the average session volume of 100,225,906 shares. The stock had previously closed at $239.20.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Jefferies Financial Group reduced their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $201.18.

Tesla Stock Down 12.3 %

The stock has a market capitalization of $688.84 billion, a PE ratio of 55.10, a price-to-earnings-growth ratio of 6.28 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average is $203.92 and its 200 day moving average is $191.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were 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 directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were 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. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently made changes to their positions in the company. Slow Capital Inc. lifted its stake in shares of Tesla by 7.7% in the 2nd quarter. Slow Capital Inc. now owns 85,461 shares of the electric vehicle producer’s stock valued at $16,911,000 after purchasing an additional 6,131 shares during the period. Quotient Wealth Partners LLC lifted its stake in shares of Tesla by 6.5% in the 2nd quarter. Quotient Wealth Partners LLC now owns 7,099 shares of the electric vehicle producer’s stock valued at $1,405,000 after purchasing an additional 434 shares during the period. Herold Advisors Inc. lifted its stake in shares of Tesla by 2.5% in the 2nd quarter. Herold Advisors Inc. now owns 11,303 shares of the electric vehicle producer’s stock valued at $2,237,000 after purchasing an additional 279 shares during the period. Everhart Financial Group Inc. lifted its stake in shares of Tesla by 20.5% in the 2nd quarter. Everhart Financial Group Inc. now owns 12,305 shares of the electric vehicle producer’s stock valued at $2,435,000 after purchasing an additional 2,094 shares during the period. Finally, Catalina Capital Group LLC raised its position in Tesla by 12.8% during the second quarter. Catalina Capital Group LLC now owns 6,703 shares of the electric vehicle producer’s stock worth $1,326,000 after acquiring an additional 761 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.