Tesla (NASDAQ:TSLA) Trading Down 2.4%

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 2.4% during mid-day trading on Tuesday . The stock traded as low as $182.43 and last traded at $182.92. 30,481,953 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 96,359,117 shares. The stock had previously closed at $187.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Truist Financial decreased their price target on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Down 1.4 %

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 business’s fifty day moving average price is $173.61 and its two-hundred day moving average price is $194.17. The firm has a market cap of $589.56 billion, a P/E ratio of 47.16, a P/E/G ratio of 4.58 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.87 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred 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 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. In the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

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

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.