Tesla (NASDAQ:TSLA) Trading Down 5.7%

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 5.7% during mid-day trading on Wednesday . The stock traded as low as $241.50 and last traded at $243.21. 38,673,613 shares changed hands during trading, a decline of 59% from the average session volume of 95,387,156 shares. The stock had previously closed at $258.02.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. KGI Securities reiterated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Stifel Nicolaus started coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $209.90.

Tesla Stock Performance

The stock’s 50 day moving average is $222.33 and its 200 day moving average is $200.24. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $794.89 billion, a price-to-earnings ratio of 62.04, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently bought and sold shares of TSLA. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter valued at about $25,000. Abich Financial Wealth Management LLC increased its position 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 valued at $26,000 after acquiring an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Tesla in the second quarter worth $26,000. M&R Capital Management Inc. grew its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the 4th quarter worth $37,000. 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.