Tesla (NASDAQ:TSLA) Stock Price Down 2.8% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 2.8% during trading on Wednesday . The stock traded as low as $326.59 and last traded at $328.86. Approximately 26,671,825 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 95,329,430 shares. The stock had previously closed at $338.23.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday. William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. The Goldman Sachs Group upped their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.06.

Tesla Stock Down 1.4 %

The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 90.10, a PEG ratio of 11.00 and a beta of 2.29. The firm has a fifty day moving average price of $268.52 and a 200-day moving average price of $229.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 in the last quarter. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC raised its holdings 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 acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at about $29,000. Finally, Clean Yield Group raised its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.