Tesla (NASDAQ:TSLA) Trading Up 5.3% After Analyst Upgrade

Tesla, Inc. (NASDAQ:TSLA) was up 5.3% during trading on Wednesday 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 $243.60. Approximately 99,398,912 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 96,447,445 shares. The stock had previously closed at $231.26.

A number of other equities analysts also recently issued reports on TSLA. Stifel Nicolaus initiated coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Mizuho lowered their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.47.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’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 transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’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 transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale 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 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 completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC boosted its position in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter worth $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in Tesla during the 4th quarter valued at about $47,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

The firm has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a fifty day simple moving average of $180.89 and a two-hundred day simple moving average of $190.93.

Tesla (NASDAQ:TSLA) last announced 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 return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. On average, analysts expect that Tesla, Inc. will post 1.86 EPS for the current year.

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.