Tesla (NASDAQ:TSLA) Trading Down 4.5%

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 4.5% on Monday . The stock traded as low as $182.73 and last traded at $198.35. 45,306,031 shares were traded during trading, a decline of 55% from the average session volume of 100,535,063 shares. The stock had previously closed at $207.67.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TSLA. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Monday, July 29th. Glj Research upped their price target on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $204.30.

Tesla Trading Down 4.4 %

The business has a 50-day moving average of $210.88 and a 200-day moving average of $190.53. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $611.56 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 5.37 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla 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 transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Lam Group Inc. bought a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter valued at $25,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla in the 4th quarter valued at $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Finally, Aspect Partners LLC increased its holdings in shares of Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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.