Tesla (TSLA) Trading Down 4.1%

Tesla Inc (NASDAQ:TSLA) shares fell 4.1% on Monday . The stock traded as low as $260.00 and last traded at $251.20. 240,621 shares were traded during trading, a decline of 97% from the average session volume of 8,627,491 shares. The stock had previously closed at $261.95.

Several research analysts have commented on TSLA shares. Jefferies Financial Group raised their target price on Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Nomura reiterated a “neutral” rating and set a $450.00 price target (up previously from $400.00) on shares of Tesla in a research report on Tuesday, September 11th. Morgan Stanley set a $291.00 price target on Tesla and gave the company a “neutral” rating in a research report on Monday, August 27th. Berenberg Bank reiterated a “buy” rating and set a $500.00 price target on shares of Tesla in a research report on Thursday, June 28th. Finally, Evercore ISI set a $299.00 price target on Tesla and gave the company a “hold” rating in a research report on Thursday. Fifteen research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Tesla has an average rating of “Hold” and a consensus price target of $302.47.

The firm has a market cap of $45.17 billion, a price-to-earnings ratio of -22.82 and a beta of 0.84. The company has a quick ratio of 0.37, a current ratio of 0.73 and a debt-to-equity ratio of 2.01.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.61) by $0.55. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. Tesla’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.33) EPS. On average, analysts anticipate that Tesla Inc will post -10.77 EPS for the current year.

In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $306,000.00. Following the transaction, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $2,630,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $573,750.00. Following the completion of the sale, the director now owns 150,208 shares in the company, valued at $45,963,648. The disclosure for this sale can be found here. 22.80% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in Tesla by 150.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,785 shares of the electric vehicle producer’s stock worth $955,000 after acquiring an additional 1,673 shares during the period. Royal London Asset Management Ltd. purchased a new position in shares of Tesla during the 2nd quarter valued at about $19,278,000. Signaturefd LLC raised its stake in shares of Tesla by 53.1% during the 2nd quarter. Signaturefd LLC now owns 853 shares of the electric vehicle producer’s stock valued at $293,000 after buying an additional 296 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Tesla during the 2nd quarter valued at about $274,000. Finally, Accredited Investors Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at about $221,000. Hedge funds and other institutional investors own 62.03% of the company’s stock.

Tesla Company Profile (NASDAQ:TSLA)

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Featured Story: Market Capitalization

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply