Tesla (NASDAQ:TSLA) Stock Price Up 6.5% on Analyst Upgrade

Shares of Tesla, Inc. (NASDAQ:TSLA) traded up 6.5% during trading on Thursday 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 $246.39. 166,561,471 shares were traded during mid-day trading, an increase of 106% from the average session volume of 80,957,576 shares. The stock had previously closed at $231.26.

Several other research firms have also issued reports on TSLA. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Wednesday, April 24th. Guggenheim increased their price target on shares of Tesla from $126.00 to $134.00 and gave the company a “sell” rating in a research note on Wednesday. Stifel Nicolaus started coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $189.47.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following 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 SEC, which is available through this link. In other 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 value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently made changes to their positions in the stock. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new stake in Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its position in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 6.5 %

The firm’s 50-day moving average is $182.57 and its 200 day moving average is $191.32. 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 firm has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 5.74 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, equities analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal 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.